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

Viracta Therapeutics, Inc. (NASDAQ:VIRX) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 184,200 shares, a drop of 25.1% from the January 15th total of 246,000 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average trading volume of 2,680,000 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Viracta Therapeutics stock. Stonepine Capital Management LLC acquired a new position in Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 31.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Rodman & Renshaw restated a “neutral” rating and set a $0.25 price target (down from $3.50) on shares of Viracta Therapeutics in a report on Friday, December 27th. Royal Bank of Canada cut their price objective on shares of Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating for the company in a report 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.05.

Viracta Therapeutics Trading Up 69.0 %

Shares of Viracta Therapeutics stock opened at $0.02 on Friday. The firm’s 50-day moving average is $0.16 and its 200 day moving average is $0.22. Viracta Therapeutics has a 1 year low of $0.01 and a 1 year high of $1.31.

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.