Viracta Therapeutics, Inc. (NASDAQ:VIRX) Short Interest Up 144.5% in October

Viracta Therapeutics, Inc. (NASDAQ:VIRX) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,690,000 shares, a growth of 144.5% from the October 15th total of 1,100,000 shares. Currently, 9.7% of the shares of the company are short sold. Based on an average trading volume of 1,390,000 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Viracta Therapeutics stock. Stonepine Capital Management LLC bought a new position in shares of Viracta Therapeutics, Inc. (NASDAQ:VIRX) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing. 31.37% of the stock is owned by institutional investors.

Viracta Therapeutics Stock Down 3.1 %

Shares of NASDAQ VIRX traded down $0.00 during trading on Friday, reaching $0.15. 1,114,340 shares of the stock were exchanged, compared to its average volume of 492,165. The business’s 50-day moving average price is $0.22 and its 200 day moving average price is $0.44. The company has a market capitalization of $6.03 million, a price-to-earnings ratio of -0.14 and a beta of 0.72. Viracta Therapeutics has a twelve month low of $0.13 and a twelve month high of $1.31.

Viracta Therapeutics (NASDAQ:VIRX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.10. As a group, sell-side analysts expect that Viracta Therapeutics will post -0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VIRX shares. Royal Bank of Canada decreased their price target on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating for the company in a report on Thursday. Leerink Partners lowered shares of Viracta Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $5.00 to $3.00 in a research note 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.