Short Interest in Viracta Therapeutics, Inc. (NASDAQ:VIRX) Decreases By 79.7%

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

Hedge Funds Weigh In On Viracta Therapeutics

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

Viracta Therapeutics Price Performance

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Rodman & Renshaw reiterated a “neutral” rating and issued a $0.25 price target (down previously from $3.50) on shares of Viracta Therapeutics in a research note on Friday, December 27th. Royal Bank of Canada reduced their target price on shares of Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Viracta Therapeutics currently has a consensus 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.