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

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VIRX shares. Royal Bank of Canada cut their price objective 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. Rodman & Renshaw reiterated a “neutral” rating and issued a $0.25 target price (down previously from $3.50) on shares of Viracta Therapeutics in a report on Friday, December 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4.05.

Institutional Trading of 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 the company in its most recent filing with the Securities & Exchange Commission. The fund 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. Institutional investors and hedge funds own 31.37% of the company’s stock.

Viracta Therapeutics Stock Up 69.0 %

VIRX stock opened at $0.02 on Friday. The company has a 50 day moving average price of $0.16 and a two-hundred day moving average price of $0.22. Viracta Therapeutics has a one year low of $0.01 and a one year high of $1.31.

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.