Viracta Therapeutics, Inc. (NASDAQ:VIRX) Short Interest Down 79.7% in January

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

Analyst Ratings Changes

Several equities research analysts have commented on VIRX shares. Rodman & Renshaw reiterated a “neutral” rating and issued 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 cut their target price on shares of 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.05.

Viracta Therapeutics Trading Down 5.5 %

VIRX stock traded down $0.01 during mid-day trading on Tuesday, reaching $0.16. 225,094 shares of the stock traded hands, compared to its average volume of 1,829,516. The stock’s fifty day moving average is $0.18 and its 200-day moving average is $0.25. The company has a market cap of $6.20 million, a P/E ratio of -0.14 and a beta of 0.66. Viracta Therapeutics has a 52-week low of $0.13 and a 52-week high of $1.31.

Hedge Funds Weigh In On Viracta Therapeutics

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 3rd quarter, according to the company in its most recent disclosure 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 1.27% of Viracta Therapeutics as of its most recent SEC filing. 31.37% of the stock is owned by institutional investors.

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.