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

Viracta Therapeutics, Inc. (NASDAQ:VIRX) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 2,690,000 shares, an increase of 144.5% from the October 15th total of 1,100,000 shares. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 9.7% of the shares of the stock are sold short.

Viracta Therapeutics Stock Performance

Shares of Viracta Therapeutics stock remained flat at $0.16 during trading on Thursday. 332,535 shares of the company traded hands, compared to its average volume of 489,348. The stock has a market capitalization of $6.22 million, a PE ratio of -0.14 and a beta of 0.72. Viracta Therapeutics has a one year low of $0.15 and a one year high of $1.31. The firm’s 50 day moving average is $0.22 and its 200-day moving average is $0.44.

Viracta Therapeutics (NASDAQ:VIRX) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.10. Analysts predict that Viracta Therapeutics will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 13F filing with the Securities and Exchange Commission (SEC). The fund bought 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned 1.27% of Viracta Therapeutics as of its most recent SEC filing. 31.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Leerink Partners cut Viracta Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $5.00 to $3.00 in a report on Friday, August 16th. Royal Bank of Canada decreased their target price on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating on the stock in a research report on Thursday.

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.