Stonepine Capital Management LLC Takes $116,000 Position in Viracta Therapeutics, Inc. (NASDAQ:VIRX)

Stonepine Capital Management LLC purchased a new position in Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned approximately 1.27% of Viracta Therapeutics at the end of the most recent reporting period.

Viracta Therapeutics Price Performance

VIRX traded down $0.00 on Wednesday, hitting $0.14. The company had a trading volume of 281,535 shares, compared to its average volume of 492,392. Viracta Therapeutics, Inc. has a 1-year low of $0.13 and a 1-year high of $1.31. The company’s fifty day moving average price is $0.21 and its 200 day moving average price is $0.40. The stock has a market cap of $5.56 million, a price-to-earnings ratio of -0.13 and a beta of 0.72.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VIRX shares. Leerink Partners cut Viracta Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $5.00 to $3.00 in a research note on Friday, August 16th. Royal Bank of Canada decreased 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 report on Thursday, November 14th.

Viracta Therapeutics 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.