Sunesis Pharmaceuticals, Inc. (SNSS): Ken Griffin’s Citadel Boosts His Stake

Citadel Advisors, a fund managed by Ken Griffin, has disclosed boosting its stake in Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS). Citadel upped its position to 3.17 million shares, from around 77,400 shares held as of the end of June. Following the increase, Citadel’s passive stake in Sunesis amasses 5.3% of the company’s outstanding common stock.

Ken Griffin

The stock of the $419 million biopharmaceutical company gained over 42% since the beginning of the year. Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) is engaged in development and commercialization of oncology therapeutics for sold and hematologic cancer treatment. Earlier in August, Sunesis presented some important developments for its main drug, vosaroxin. In June, the drug was accepted by the pediatric committee of the European Medicines Agency (EMA) for a pediatric investigation plan. The plan is a part of EMA’s approval of the drug, following which Sunesis will submit a Marketing Authorization Application for the drug in the European Union.

In addition in the second quarter, Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) expanded its net loss to $11.6 million, from $8.2 million posted for the same period of last year. The company’s revenue remained unchanged at approximately $1.99 million.

Among the hedge funds we track, many notorious investors revealed holding shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) in their latest 13F filings. One of them is Steven Cohen, whose fund, Point72 Asset Management, disclosed holding 468,500 shares of the company. Peter Kolchinsky of RA Capital Management is also bullish on Sunesis and RA revealed ownership of approximately 4.87 million shares as of the end of June.

On the other hand, Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS)’s insiders have not reported any acquisitions since 2011, but have disclosed selling shares over the last several months. Among the latest transactions, Eric Bjerkholt, the Chief Financial Officer of the company sold 10,000 shares at $8.00 apiece at the end of August. Peter Barris, a large shareholder of the company, sold 266,700 shares of Sunesis between August 27-29, the remaining holding containing 4.67 million shares.

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