Short Interest in Viracta Therapeutics, Inc. (NASDAQ:VIRX) Declines By 17.3%

Viracta Therapeutics, Inc. (NASDAQ:VIRX) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 1,100,000 shares, a drop of 17.3% from the September 30th total of 1,330,000 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily volume of 662,700 shares, the days-to-cover ratio is presently 1.7 days.

Viracta Therapeutics Stock Performance

VIRX stock traded down $0.02 during trading on Monday, reaching $0.24. The company had a trading volume of 22,041,756 shares, compared to its average volume of 401,796. The company has a market cap of $9.57 million, a price-to-earnings ratio of -0.21 and a beta of 0.70. Viracta Therapeutics has a twelve month low of $0.20 and a twelve month high of $1.31. The firm has a 50-day simple moving average of $0.24 and a 200-day simple moving average of $0.50.

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, topping the consensus estimate of ($0.35) by $0.10. Sell-side analysts expect that Viracta Therapeutics will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Leerink Partners downgraded Viracta Therapeutics from an “outperform” rating to a “market perform” rating and cut their price target for the company from $5.00 to $3.00 in a research note on Friday, August 16th. Royal Bank of Canada dropped their price target on shares of Viracta Therapeutics from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th.

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.