Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) Sees Significant Growth in Short Interest

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 773,700 shares, an increase of 31.5% from the September 15th total of 588,300 shares. Based on an average daily trading volume, of 1,650,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 4.3% of the company’s stock are sold short.

Shares of SNSS opened at $1.40 on Friday. The company’s fifty day moving average is $1.55 and its 200-day moving average is $3.25. Sunesis Pharmaceuticals has a 12 month low of $1.17 and a 12 month high of $11.30. The firm has a market cap of $25.33 million, a price-to-earnings ratio of -0.64 and a beta of 1.74.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last announced its quarterly earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.60) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.60). Research analysts anticipate that Sunesis Pharmaceuticals will post -1.5 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in SNSS. Jane Street Group LLC bought a new stake in shares of Sunesis Pharmaceuticals during the 2nd quarter worth $36,000. UBS Group AG boosted its holdings in shares of Sunesis Pharmaceuticals by 129.8% during the 2nd quarter. UBS Group AG now owns 145,331 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 82,080 shares during the period. Avidity Partners Management LP boosted its holdings in shares of Sunesis Pharmaceuticals by 207.9% during the 1st quarter. Avidity Partners Management LP now owns 4,310,000 shares of the biopharmaceutical company’s stock worth $1,788,000 after buying an additional 2,910,000 shares during the period. Finally, Corriente Advisors LLC bought a new stake in shares of Sunesis Pharmaceuticals during the 1st quarter worth $1,254,000. Institutional investors own 20.89% of the company’s stock.

Several research firms have weighed in on SNSS. Zacks Investment Research lowered shares of Sunesis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 13th. ValuEngine upgraded shares of Sunesis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. Finally, Oppenheimer reiterated a “hold” rating on shares of Sunesis Pharmaceuticals in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.67.

About Sunesis Pharmaceuticals

Sunesis Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of targeted inhibitors for the treatment of hematologic and solid cancers. Its lead product candidate is vecabrutinib, a non-covalent inhibitor of Bruton's tyrosine kinase (BTK), which is in Phase 1b/2 clinical trial for the treatment of chronic lymphocytic leukemia, mantle cell lymphoma, and other B-cell malignancies.

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