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

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VIRX. Rodman & Renshaw reissued a “neutral” rating and issued a $0.25 target price (down from $3.50) on shares of Viracta Therapeutics in a report on Friday, December 27th. Royal Bank of Canada reduced their target price 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 stock. According to data from MarketBeat, Viracta Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $4.05.

Viracta Therapeutics Price Performance

VIRX stock opened at $0.02 on Friday. Viracta Therapeutics has a 1-year low of $0.01 and a 1-year high of $1.31. The company has a market capitalization of $679,554.00, a price-to-earnings ratio of -0.02 and a beta of 0.70. The business has a 50 day simple moving average of $0.15 and a two-hundred day simple moving average of $0.21.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Viracta Therapeutics stock. Stonepine Capital Management LLC purchased a new position in Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned 1.27% of Viracta Therapeutics at the end of the most recent reporting period. Institutional investors own 31.37% of the company’s stock.

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.