Viracta Therapeutics (NASDAQ:VIRX) Stock Rating Reaffirmed by HC Wainwright

Viracta Therapeutics (NASDAQ:VIRX)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $4.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 426.32% from the company’s current price.

Viracta Therapeutics Stock Performance

VIRX traded down $0.02 during midday trading on Tuesday, reaching $0.76. 81,001 shares of the company were exchanged, compared to its average volume of 110,504. The stock has a market capitalization of $29.85 million, a P/E ratio of -0.58 and a beta of 0.93. Viracta Therapeutics has a one year low of $0.43 and a one year high of $2.38. The stock’s 50-day simple moving average is $0.89 and its 200 day simple moving average is $0.70.

Viracta Therapeutics (NASDAQ:VIRX) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.05). On average, research analysts anticipate that Viracta Therapeutics will post -1.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VIRX. Geode Capital Management LLC lifted its holdings in shares of Viracta Therapeutics by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 224,438 shares of the company’s stock valued at $327,000 after purchasing an additional 6,502 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Viracta Therapeutics by 65.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 22,371 shares of the company’s stock worth $96,000 after acquiring an additional 8,854 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Viracta Therapeutics by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 134,799 shares of the company’s stock worth $190,000 after acquiring an additional 9,500 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Viracta Therapeutics by 81.3% in the first quarter. Bank of America Corp DE now owns 23,241 shares of the company’s stock valued at $37,000 after purchasing an additional 10,422 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Viracta Therapeutics by 2.8% in the second quarter. BlackRock Inc. now owns 460,235 shares of the company’s stock worth $649,000 after purchasing an additional 12,434 shares in the last quarter. 31.37% of the stock is owned by institutional investors and hedge funds.

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.