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

Viracta Therapeutics, Inc. (NASDAQ:VIRX) was the target of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 1,580,000 shares, a decrease of 24.8% from the November 15th total of 2,100,000 shares. Currently, 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,040,000 shares, the days-to-cover ratio is currently 0.8 days.

Viracta Therapeutics Trading Up 6.8 %

Shares of VIRX stock traded up $0.01 during mid-day trading on Friday, reaching $0.20. The stock had a trading volume of 740,735 shares, compared to its average volume of 769,741. The firm has a market capitalization of $8.06 million, a PE ratio of -0.18 and a beta of 0.67. The stock’s 50-day moving average price is $0.19 and its two-hundred day moving average price is $0.34. Viracta Therapeutics has a 52-week low of $0.13 and a 52-week high of $1.31.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Viracta Therapeutics stock. Stonepine Capital Management LLC bought a new stake in shares of Viracta Therapeutics, Inc. (NASDAQ:VIRX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 filing with the Securities and Exchange Commission (SEC). 31.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Leerink Partners downgraded shares of Viracta Therapeutics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $5.00 to $3.00 in a research note on Friday, August 16th. Royal Bank of Canada reduced their target price on shares of Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th.

Viracta Therapeutics Company Profile

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.