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

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

Viracta Therapeutics Stock Down 6.1 %

Shares of NASDAQ:VIRX opened at $0.17 on Tuesday. The business has a 50 day moving average price of $0.18 and a 200 day moving average price of $0.28. The company has a market cap of $6.94 million, a price-to-earnings ratio of -0.16 and a beta of 0.66. Viracta Therapeutics has a twelve month low of $0.13 and a twelve month high of $1.31.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reduced their target price on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Rodman & Renshaw restated a “neutral” rating and issued a $0.25 price objective (down from $3.50) on shares of Viracta Therapeutics in a research note on Friday, December 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4.05.

Institutional Investors Weigh In On Viracta Therapeutics

An institutional investor recently bought a new position in Viracta Therapeutics stock. Stonepine Capital Management LLC bought a new stake in shares of Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the 3rd quarter, according to its most recent filing with the SEC. 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 31.37% of the company’s stock.

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.