Short Interest in Viracta Therapeutics, Inc. (NASDAQ:VIRX) Decreases By 21.9%

Viracta Therapeutics, Inc. (NASDAQ:VIRX) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,100,000 shares, a decline of 21.9% from the October 31st total of 2,690,000 shares. Approximately 7.5% of the company’s shares are sold short. Based on an average trading volume of 1,050,000 shares, the short-interest ratio is currently 2.0 days.

Institutional Trading of Viracta Therapeutics

An institutional investor recently bought a new position in Viracta Therapeutics stock. Stonepine Capital Management LLC purchased a new stake in shares of Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter. 31.37% of the stock is currently owned by institutional investors and hedge funds.

Viracta Therapeutics Stock Up 3.7 %

Shares of VIRX stock opened at $0.15 on Friday. Viracta Therapeutics has a one year low of $0.13 and a one year high of $1.31. The company has a 50 day moving average price of $0.21 and a 200 day moving average price of $0.39.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank of Canada reduced their price target on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating on the stock in a research note on Thursday, November 14th. Leerink Partners downgraded Viracta Therapeutics from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $5.00 to $3.00 in a research report on Friday, August 16th.

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.