Viracta Therapeutics, Inc. (NASDAQ:VIRX) Short Interest Update

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Viracta Therapeutics stock. Stonepine Capital Management LLC bought a new position in Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned about 1.27% of Viracta Therapeutics at the end of the most recent reporting period. 31.37% of the stock is currently owned by hedge funds and other institutional investors.

Viracta Therapeutics Stock Down 6.1 %

VIRX stock traded down $0.01 during trading on Monday, reaching $0.17. The stock had a trading volume of 757,272 shares, compared to its average volume of 3,380,881. The company has a market capitalization of $6.94 million, a price-to-earnings ratio of -0.16 and a beta of 0.66. Viracta Therapeutics has a one year low of $0.13 and a one year high of $1.31. The company’s 50 day moving average is $0.18 and its two-hundred day moving average is $0.28.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Rodman & Renshaw reissued a “neutral” rating and issued a $0.25 price objective (down previously from $3.50) on shares of Viracta Therapeutics in a research note on Friday, December 27th. Royal Bank of Canada lowered their price objective on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Viracta Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus 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.