Shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) dropped 7.9% during trading on Thursday . The company traded as low as $0.20 and last traded at $0.35, approximately 28,081,662 shares traded hands during mid-day trading. An increase of 2,654% from the average daily volume of 1,019,787 shares. The stock had previously closed at $0.38.
SNSS has been the topic of several research analyst reports. HC Wainwright reissued a “hold” rating on shares of Sunesis Pharmaceuticals in a research report on Wednesday, November 13th. Zacks Investment Research raised shares of Sunesis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a report on Saturday, November 16th. ValuEngine raised shares of Sunesis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Cowen reiterated a “hold” rating on shares of Sunesis Pharmaceuticals in a research note on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $2.67.
The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.02. The stock has a 50-day simple moving average of $0.50 and a 200 day simple moving average of $0.73. The company has a market cap of $47.87 million, a price-to-earnings ratio of -0.47 and a beta of 2.67.
Sunesis Pharmaceuticals (NASDAQ:SNSS) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. As a group, research analysts forecast that Sunesis Pharmaceuticals, Inc. will post -0.28 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC acquired a new position in Sunesis Pharmaceuticals in the 3rd quarter worth approximately $308,000. Point72 Asset Management L.P. boosted its holdings in shares of Sunesis Pharmaceuticals by 114.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $2,160,000 after acquiring an additional 1,600,000 shares during the last quarter. Algert Global LLC increased its stake in shares of Sunesis Pharmaceuticals by 226.1% in the second quarter. Algert Global LLC now owns 67,014 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 46,464 shares during the period. Vanguard Group Inc. increased its stake in shares of Sunesis Pharmaceuticals by 228.0% in the second quarter. Vanguard Group Inc. now owns 2,283,383 shares of the biopharmaceutical company’s stock worth $1,660,000 after acquiring an additional 1,587,157 shares during the period. Finally, A.R.T. Advisors LLC raised its holdings in shares of Sunesis Pharmaceuticals by 33.9% during the second quarter. A.R.T. Advisors LLC now owns 98,842 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 25,042 shares during the last quarter. Hedge funds and other institutional investors own 53.06% of the company’s stock.
About Sunesis Pharmaceuticals (NASDAQ:SNSS)
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.
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