Short Interest in Viracta Therapeutics, Inc. (NASDAQ:VIRX) Declines By 24.8%

Viracta Therapeutics, Inc. (NASDAQ:VIRX) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,580,000 shares, a drop of 24.8% from the November 15th total of 2,100,000 shares. Currently, 5.7% of the shares of the company are sold short. Based on an average trading volume of 2,040,000 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Viracta Therapeutics stock. Stonepine Capital Management LLC acquired a new stake in shares of Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned approximately 1.27% of Viracta Therapeutics at the end of the most recent quarter. Institutional investors own 31.37% of the company’s stock.

Viracta Therapeutics Stock Performance

Viracta Therapeutics stock opened at $0.20 on Friday. The company’s fifty day moving average price is $0.19 and its 200 day moving average price is $0.34. The stock has a market capitalization of $8.06 million, a P/E ratio of -0.18 and a beta of 0.67. Viracta Therapeutics has a 1 year low of $0.13 and a 1 year high of $1.31.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reduced their price objective on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th.

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.