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

Viracta Therapeutics, Inc. (NASDAQ:VIRX) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 2,100,000 shares, a drop of 21.9% from the October 31st total of 2,690,000 shares. Approximately 7.5% of the company’s shares are sold short. Based on an average trading volume of 1,050,000 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Trading of Viracta Therapeutics

An institutional investor recently bought a new position in Viracta Therapeutics stock. Stonepine Capital Management LLC bought a new stake in Viracta Therapeutics, Inc. (NASDAQ:VIRX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 owned by institutional investors and hedge funds.

Viracta Therapeutics Stock Performance

Shares of VIRX opened at $0.14 on Friday. The company has a 50 day moving average price of $0.20 and a 200-day moving average price of $0.39. Viracta Therapeutics has a fifty-two week low of $0.13 and a fifty-two week high of $1.31. The stock has a market capitalization of $5.68 million, a PE ratio of -0.13 and a beta of 0.72.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VIRX. Royal Bank of Canada lowered their price target on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Leerink Partners downgraded Viracta Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $5.00 to $3.00 in a research report on Friday, August 16th.

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.