Sunesis Pharmaceuticals Inc. [NASDAQ: SNSS] gained 7.31% or 0.02 points to close at $0.30 with a heavy trading volume of 46029697 shares. The company report on July 29, 2020 that Sunesis Announces Pricing of $12 Million Offering of Common Stock.
Sunesis Pharmaceuticals, Inc. (Nasdaq: SNSS) today announced the pricing of an underwritten public offering of 52,173,913 shares of its common stock. The public offering price of each share of common stock is $0.23.
Sunesis expects to receive gross proceeds of approximately $12 million from this offering, before deducting the underwriting discounts and estimated offering expenses. Sunesis has granted the underwriters a 30-day option to purchase up to an additional 7,826,086 shares of common stock to cover over-allotments, if any. This offering is expected to close on or about July 31, 2020, subject to customary closing conditions. Sunesis anticipates using the net proceeds from the proposed offering to fund ongoing development of PDK1 inhibitor SNS-510 and general corporate purposes.
It opened the trading session at $0.28, the shares rose to $0.34 and dropped to $0.2705, the range by which the price of stock traded the whole day. The daily chart for SNSS points out that the company has recorded -42.64% loss over the past six months. However, it is still -50.0% lower than its most recent low trading price.
If we look at the average trading volume of 8.72M shares, SNSS reached to a volume of 46029697 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Sunesis Pharmaceuticals Inc. [SNSS]:
Oppenheimer have made an estimate for Sunesis Pharmaceuticals Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on June 24, 2020. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $3 to $1. The new note on the price target was released on March 11, 2020, representing the official price target for Sunesis Pharmaceuticals Inc. stock.
The Average True Range (ATR) for Sunesis Pharmaceuticals Inc. is set at 0.06, with the Price to Sales ratio for SNSS stock in the period of the last 12 months amounting to 14.36. The Price to Book ratio for the last quarter was 3.38, with the Price to Cash per share for the same quarter was set at 0.23.
Trading performance analysis for SNSS stock
Sunesis Pharmaceuticals Inc. [SNSS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.69. With this latest performance, SNSS shares dropped by -3.68% in over the last four-week period, additionally sinking by -42.64% over the last 6 months – not to mention a drop of -61.52% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNSS stock in for the last two-week period is set at 47.75, with the RSI for the last a single of trading hit 45.28, and the three-weeks RSI is set at 45.67 for Sunesis Pharmaceuticals Inc. [SNSS]. The present Moving Average for the last 50 days of trading for this stock 0.3751, while it was recorded at 0.3353 for the last single week of trading, and 0.4789 for the last 200 days.
Sunesis Pharmaceuticals Inc. [SNSS]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Sunesis Pharmaceuticals Inc. [SNSS] shares currently have an operating margin of -1123.40. Sunesis Pharmaceuticals Inc.’s Net Margin is presently recorded at -1125.42.
Return on Total Capital for SNSS is now -103.01, given the latest momentum, and Return on Invested Capital for the company is -146.69. Return on Equity for this stock declined to -147.96, with Return on Assets sitting at -88.77. When it comes to the capital structure of this company, Sunesis Pharmaceuticals Inc. [SNSS] has a Total Debt to Total Equity ratio set at 22.81. Additionally, SNSS Total Debt to Total Capital is recorded at 18.57, with Total Debt to Total Assets ending up at 16.87. Long-Term Debt to Equity for the company is recorded at 1.72, with the Long-Term Debt to Total Capital now at 0.80.
Reflecting on the efficiency of the workforce at the company, Sunesis Pharmaceuticals Inc. [SNSS] managed to generate an average of -$972,083 per employee.Sunesis Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.
Sunesis Pharmaceuticals Inc. [SNSS]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Sunesis Pharmaceuticals Inc. posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNSS.
An analysis of insider ownership at Sunesis Pharmaceuticals Inc. [SNSS]
There are presently around $20 million, or 66.40% of SNSS stock, in the hands of institutional investors. The top three institutional holders of SNSS stocks are: AISLING CAPITAL MANAGEMENT LP with ownership of 10,100,000, which is approximately 0% of the company’s market cap and around 0.18% of the total institutional ownership; NANTAHALA CAPITAL MANAGEMENT, LLC, holding 9,566,844 shares of the stock with an approximate value of $2.91 million in SNSS stocks shares; and CAXTON CORP, currently with $2.47 million in SNSS stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Sunesis Pharmaceuticals Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 18 institutional holders increased their position in Sunesis Pharmaceuticals Inc. [NASDAQ:SNSS] by around 12,246,880 shares. Additionally, 16 investors decreased positions by around 3,065,703 shares, while 21 investors held positions by with 52,115,505 shares. The mentioned changes placed institutional holdings at 67,428,088 shares, according to the latest SEC report filing. SNSS stock had 8 new institutional investments in for a total of 3,448,721 shares, while 10 institutional investors sold positions of 1,185,297 shares during the same period.