Sunesis Pharmaceuticals (NASDAQ:SNSS) Trading Down 12.1%

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS)’s share price dropped 12.1% during trading on Friday . The company traded as low as $0.78 and last traded at $0.80, approximately 1,533,619 shares were traded during mid-day trading. An increase of 53% from the average daily volume of 999,594 shares. The stock had previously closed at $0.91.

SNSS has been the subject of a number of research analyst reports. Cowen reissued a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Sunday, June 16th. Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. HC Wainwright set a $267.00 target price on Sarepta Therapeutics and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Sunesis Pharmaceuticals presently has an average rating of “Hold” and an average target price of $3.08.

The stock has a market capitalization of $66.07 million, a P/E ratio of -1.06 and a beta of 2.75. The firm has a fifty day simple moving average of $0.74.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.08. On average, research analysts predict that Sunesis Pharmaceuticals, Inc. will post -0.43 EPS for the current year.

In other news, major shareholder Aisling Capital Iv, Lp acquired 2,500,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was bought at an average price of $0.60 per share, with a total value of $1,500,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.22% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Aisling Capital Management LP grew its position in Sunesis Pharmaceuticals by 192.3% in the first quarter. Aisling Capital Management LP now owns 7,600,000 shares of the biopharmaceutical company’s stock valued at $9,234,000 after acquiring an additional 5,000,000 shares during the last quarter. Fosun International Ltd bought a new position in Sunesis Pharmaceuticals in the first quarter valued at about $863,000. Finally, Algert Global LLC bought a new position in Sunesis Pharmaceuticals in the first quarter valued at about $25,000. 43.10% of the stock is owned by institutional investors.

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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