Viracta Therapeutics, Inc. (NASDAQ:VIRX) Sees Significant Decline in Short Interest

Viracta Therapeutics, Inc. (NASDAQ:VIRX) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 609,900 shares, a decline of 79.7% from the December 31st total of 3,000,000 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily volume of 2,690,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Viracta Therapeutics stock. Stonepine Capital Management LLC acquired a new position in Viracta Therapeutics, Inc. (NASDAQ:VIRX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned 1.27% of Viracta Therapeutics as of its most recent SEC filing. Institutional investors own 31.37% of the company’s stock.

Viracta Therapeutics Stock Up 0.9 %

Shares of NASDAQ VIRX traded up $0.00 during midday trading on Thursday, reaching $0.16. The company had a trading volume of 128,680 shares, compared to its average volume of 1,683,483. Viracta Therapeutics has a one year low of $0.13 and a one year high of $1.31. The firm’s fifty day moving average price is $0.18 and its 200-day moving average price is $0.25. The stock has a market cap of $6.17 million, a PE ratio of -0.14 and a beta of 0.66.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VIRX. Rodman & Renshaw reiterated a “neutral” rating and set a $0.25 price objective (down from $3.50) on shares of Viracta Therapeutics in a research report on Friday, December 27th. Royal Bank of Canada dropped their price target on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating on the stock in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Viracta Therapeutics has an average rating of “Moderate Buy” and an average price target of $4.05.

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.