Viracta Therapeutics, Inc. (NASDAQ:VIRX) Sees Large Drop in Short Interest

Viracta Therapeutics, Inc. (NASDAQ:VIRX) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,100,000 shares, a drop of 17.3% from the September 30th total of 1,330,000 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 662,700 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VIRX shares. Leerink Partners downgraded Viracta Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $5.00 to $3.00 in a research report on Friday, August 16th. Royal Bank of Canada lowered their target price on Viracta Therapeutics from $6.00 to $4.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th.

Viracta Therapeutics Price Performance

NASDAQ VIRX opened at $0.22 on Wednesday. The company has a market capitalization of $8.70 million, a P/E ratio of -0.19 and a beta of 0.70. The business has a 50 day moving average price of $0.23 and a 200 day moving average price of $0.49. Viracta Therapeutics has a 1-year low of $0.20 and a 1-year high of $1.31.

Viracta Therapeutics (NASDAQ:VIRX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.10. On average, research analysts expect that Viracta Therapeutics will post -0.69 earnings per share for the current fiscal year.

About Viracta Therapeutics

Viracta Therapeutics, Inc, a clinical-stage precision oncology company, focuses on the treatment and prevention of virus-associated cancers that impact patients worldwide. Its lead product candidate is Nana-val, an all-oral combination therapy of its proprietary investigational drug, nanatinostat, and the antiviral agent valganciclovir.