Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) Sees Large Increase in Short Interest

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 3,030,000 shares, a growth of 57.0% from the June 30th total of 1,930,000 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily trading volume, of 5,130,000 shares, the short-interest ratio is presently 0.6 days.

Several equities research analysts have recently commented on SNSS shares. Oppenheimer downgraded shares of Sunesis Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 23rd. ValuEngine upgraded shares of Sunesis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Zacks Investment Research downgraded shares of Sunesis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, HC Wainwright decreased their target price on shares of Sunesis Pharmaceuticals from $1.00 to $0.50 and set a “neutral” rating for the company in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $0.67.

NASDAQ SNSS opened at $0.30 on Friday. The company has a market capitalization of $33.86 million, a PE ratio of -1.22 and a beta of 1.76. The company has a fifty day moving average of $0.36 and a 200 day moving average of $0.50. Sunesis Pharmaceuticals has a 1 year low of $0.20 and a 1 year high of $1.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.32.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $0.12 million for the quarter, compared to analyst estimates of $0.15 million. Research analysts expect that Sunesis Pharmaceuticals will post -0.19 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. purchased a new position in Sunesis Pharmaceuticals in the first quarter valued at $42,000. UBS Group AG increased its holdings in Sunesis Pharmaceuticals by 129.8% in the second quarter. UBS Group AG now owns 145,331 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 82,080 shares in the last quarter. Geode Capital Management LLC increased its holdings in Sunesis Pharmaceuticals by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 632,647 shares of the biopharmaceutical company’s stock valued at $213,000 after buying an additional 16,913 shares in the last quarter. Burrage Capital Management LLC increased its holdings in Sunesis Pharmaceuticals by 24.5% in the first quarter. Burrage Capital Management LLC now owns 682,586 shares of the biopharmaceutical company’s stock valued at $280,000 after buying an additional 134,358 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Sunesis Pharmaceuticals by 96.9% in the first quarter. BlackRock Inc. now owns 2,290,180 shares of the biopharmaceutical company’s stock valued at $950,000 after buying an additional 1,127,038 shares in the last quarter. 60.57% of the stock is owned by institutional investors.

About Sunesis Pharmaceuticals

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

Recommended Story: Should you buy a closed-end mutual fund?

Receive News & Ratings for Sunesis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunesis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.