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

Viracta Therapeutics, Inc. (NASDAQ:VIRX) saw a large drop in short interest in the month of 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. Approximately 2.2% of the shares of the company are sold short. Based on an average trading volume of 2,690,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

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) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 31.37% of the company’s stock.

Viracta Therapeutics Trading Down 6.1 %

Shares of VIRX opened at $0.17 on Tuesday. The stock has a market cap of $6.94 million, a PE ratio of -0.16 and a beta of 0.66. Viracta Therapeutics has a 1 year low of $0.13 and a 1 year high of $1.31. The stock has a 50 day simple moving average of $0.18 and a 200-day simple moving average of $0.28.

Analyst Ratings Changes

VIRX has been the topic of a number of research reports. Royal Bank of Canada lowered their price objective on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. Rodman & Renshaw reissued a “neutral” rating and issued a $0.25 price target (down previously from $3.50) on shares of Viracta Therapeutics in a report on Friday, December 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Viracta Therapeutics presently 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.