Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

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.

Disclosure: none

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.