Sunesis Pharmaceuticals, Inc. (SNSS) Stock Price Up 19.1% on Insider Buying Activity

Shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) rose 19.1% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $2.65 and last traded at $2.56. Approximately 662,422 shares were traded during trading, an increase of 309% from the average daily volume of 161,874 shares. The stock had previously closed at $2.15.

Specifically, Director Dayton Misfeldt acquired 400,000 shares of Sunesis Pharmaceuticals stock in a transaction dated Friday, October 27th. The shares were acquired at an average cost of $2.00 per share, for a total transaction of $800,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 10.21% of the stock is currently owned by company insiders.

Several equities research analysts recently commented on SNSS shares. Zacks Investment Research lowered shares of Sunesis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Cantor Fitzgerald reiterated a “hold” rating and set a $3.00 price target on shares of Sunesis Pharmaceuticals in a research note on Thursday, July 27th. Finally, ValuEngine lowered shares of Sunesis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st.

The company has a 50 day moving average of $2.11 and a 200 day moving average of $2.63. The company’s market cap is $60.19 million.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management LLC bought a new position in Sunesis Pharmaceuticals during the 2nd quarter valued at approximately $5,400,000. Virtu KCG Holdings LLC bought a new position in Sunesis Pharmaceuticals during the 2nd quarter valued at approximately $208,000. Vanguard Group Inc. raised its position in Sunesis Pharmaceuticals by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 605,759 shares of the biopharmaceutical company’s stock valued at $1,635,000 after purchasing an additional 23,819 shares during the last quarter. Wells Fargo & Company MN raised its position in Sunesis Pharmaceuticals by 77.4% during the 2nd quarter. Wells Fargo & Company MN now owns 41,851 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 18,254 shares during the last quarter. Finally, Sphera Funds Management LTD. raised its position in Sunesis Pharmaceuticals by 54.6% during the 2nd quarter. Sphera Funds Management LTD. now owns 193,212 shares of the biopharmaceutical company’s stock valued at $522,000 after purchasing an additional 68,212 shares during the last quarter. 57.56% of the stock is owned by institutional investors and hedge funds.

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About Sunesis Pharmaceuticals

Sunesis Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of its pipeline of oncology therapeutics for the treatment of solid and hematologic cancers. The Company offers QINPREZO (vosaroxin), which is a product candidate for the treatment of acute myeloid leukemia (AML).

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