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

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Rodman & Renshaw reissued a “neutral” rating and set a $0.25 price target (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 shares of Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating on the stock in a research 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’s stock. Based on data from MarketBeat, Viracta Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $4.05.

Viracta Therapeutics Stock Performance

NASDAQ VIRX opened at $0.16 on Wednesday. Viracta Therapeutics has a 52-week low of $0.13 and a 52-week high of $1.31. The company has a 50-day simple moving average of $0.18 and a 200 day simple moving average of $0.28. The company has a market capitalization of $6.55 million, a PE ratio of -0.15 and a beta of 0.66.

Institutional Trading of Viracta Therapeutics

A hedge fund recently bought a new stake in Viracta Therapeutics stock. Stonepine Capital Management LLC acquired a new position 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 (SEC). The firm acquired 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned about 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.

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.