Viracta Therapeutics (NASDAQ:VIRX) Stock Price Down 11%

Viracta Therapeutics, Inc. (NASDAQ:VIRX – Get Rating)’s share price fell 11% on Monday . The company traded as low as $0.88 and last traded at $0.89. 132,839 shares changed hands during mid-day trading, an increase of 63% from the average session volume of 81,580 shares. The stock had previously closed at $1.00.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VIRX. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 target price on shares of Viracta Therapeutics in a report on Tuesday, March 14th. Oppenheimer boosted their target price on shares of Viracta Therapeutics from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, March 27th. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Viracta Therapeutics in a report on Tuesday, March 14th.

Viracta Therapeutics Price Performance

The company has a market capitalization of $34.18 million, a P/E ratio of -0.68 and a beta of 1.20. The firm’s fifty day moving average is $1.46 and its 200 day moving average is $2.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 9.36 and a current ratio of 9.36.

Hedge Funds Weigh In On Viracta Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Bailard Inc. bought a new position in Viracta Therapeutics in the 1st quarter worth about $32,000. Trust Co. of Toledo NA OH bought a new position in Viracta Therapeutics in the 1st quarter worth about $45,000. Jane Street Group LLC bought a new position in Viracta Therapeutics in the 4th quarter worth about $35,000. Virtu Financial LLC bought a new position in Viracta Therapeutics in the 4th quarter worth about $29,000. Finally, Millennium Management LLC grew its stake in Viracta Therapeutics by 32.3% in the 4th quarter. Millennium Management LLC now owns 198,904 shares of the company’s stock worth $290,000 after acquiring an additional 48,530 shares in the last quarter. 32.35% of the stock is currently owned by institutional investors.

About Viracta Therapeutics

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Viracta Therapeutics, Inc a clinical-stage, biomarker-directed precision oncology company focused on new medicines for the treatment of virus-associated malignancies. It develops antiviral agent valganciclovir as an oral combination therapy which is in a Phase 2 clinical trial for EBV-positive lymphomas.