Sunesis Pharmaceuticals (NASDAQ:SNSS) Sees Unusually-High Trading Volume
Shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) saw an uptick in trading volume on Wednesday . 3,240,671 shares changed hands during mid-day trading, an increase of 279% from the previous session’s volume of 854,307 shares.The stock last traded at $0.70 and had previously closed at $0.61.
Several research firms recently weighed in on SNSS. ValuEngine upgraded shares of Sunesis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Zacks Investment Research cut shares of Sunesis Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. HC Wainwright reiterated a “hold” rating and issued a $0.50 target price on shares of Sunesis Pharmaceuticals in a research note on Tuesday, March 12th. Finally, Oppenheimer set a $6.00 target price on shares of Sunesis Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, March 8th.
The company has a market cap of $50.89 million, a price-to-earnings ratio of -0.94 and a beta of 2.98.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC bought a new position in Sunesis Pharmaceuticals during the first quarter worth about $25,000. Renaissance Technologies LLC bought a new position in Sunesis Pharmaceuticals during the first quarter worth about $75,000. Northern Trust Corp lifted its stake in Sunesis Pharmaceuticals by 51.3% during the first quarter. Northern Trust Corp now owns 107,116 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 36,296 shares during the period. BlackRock Inc. lifted its stake in Sunesis Pharmaceuticals by 27.2% during the first quarter. BlackRock Inc. now owns 219,135 shares of the biopharmaceutical company’s stock worth $266,000 after purchasing an additional 46,852 shares during the period. Finally, Fosun International Ltd bought a new position in Sunesis Pharmaceuticals during the first quarter worth about $863,000. Institutional investors and hedge funds own 43.10% of the company’s stock.
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Sunesis Pharmaceuticals Company Profile (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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