Sunesis Pharmaceuticals (SNSS) Trading Down 7.4%

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) shares traded down 7.4% on Wednesday . The stock traded as low as $2.18 and last traded at $2.25. 2,569,100 shares were traded during mid-day trading, an increase of 936% from the average session volume of 247,962 shares. The stock had previously closed at $2.43.

Several research analysts have weighed in on the company. ValuEngine raised Sunesis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research raised Sunesis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research report on Thursday, May 10th. Cowen reaffirmed a “hold” rating on shares of Sunesis Pharmaceuticals in a research report on Tuesday, May 8th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $4.00 price target on shares of Sunesis Pharmaceuticals in a research report on Thursday, March 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $4.12.

The stock has a market cap of $83.52 million, a P/E ratio of -1.55 and a beta of 1.74.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last issued its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.06. The firm had revenue of $0.24 million for the quarter. equities analysts forecast that Sunesis Pharmaceuticals, Inc. will post -0.92 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Sunesis Pharmaceuticals by 9.5% during the 4th quarter. BlackRock Inc. now owns 130,573 shares of the biopharmaceutical company’s stock valued at $482,000 after purchasing an additional 11,351 shares during the period. Wells Fargo & Company MN raised its stake in shares of Sunesis Pharmaceuticals by 38.4% during the 1st quarter. Wells Fargo & Company MN now owns 64,367 shares of the biopharmaceutical company’s stock valued at $175,000 after purchasing an additional 17,853 shares during the period. Geode Capital Management LLC raised its stake in shares of Sunesis Pharmaceuticals by 105.2% during the 4th quarter. Geode Capital Management LLC now owns 125,489 shares of the biopharmaceutical company’s stock valued at $463,000 after purchasing an additional 64,343 shares during the period. Spark Investment Management LLC bought a new stake in shares of Sunesis Pharmaceuticals during the 1st quarter valued at $204,000. Finally, Millennium Management LLC raised its stake in shares of Sunesis Pharmaceuticals by 594.4% during the 1st quarter. Millennium Management LLC now owns 106,599 shares of the biopharmaceutical company’s stock valued at $290,000 after purchasing an additional 91,248 shares during the period. 52.23% of the stock is currently owned by hedge funds and other institutional investors.

Sunesis Pharmaceuticals Company Profile

Sunesis Pharmaceuticals, Inc, a 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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