Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) was down 11.8% on Tuesday . The stock traded as low as $0.48 and last traded at $0.45. Approximately 12,435 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 147,854 shares. The stock had previously closed at $0.51.
Separately, Zacks Investment Research raised shares of Sunesis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $2.50 target price for the company in a research report on Wednesday, October 10th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Sunesis Pharmaceuticals presently has an average rating of “Buy” and an average target price of $3.75.
The stock has a market cap of $33.76 million, a price-to-earnings ratio of -0.34 and a beta of 2.04.
A hedge fund recently raised its stake in Sunesis Pharmaceuticals stock. Millennium Management LLC lifted its holdings in shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) by 594.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,599 shares of the biopharmaceutical company’s stock after buying an additional 91,248 shares during the period. Millennium Management LLC owned 0.31% of Sunesis Pharmaceuticals worth $290,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 44.15% of the company’s stock.
About Sunesis Pharmaceuticals (NASDAQ:SNSS)
Sunesis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. Its lead program is vecabrutinib, a non-covalently binding inhibitor of Bruton's tyrosine kinase (BTK), which is in Phase 1b/2 clinical trial in B-cell malignancies.
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