Sierra Oncology Inc (NASDAQ:SRRA) shares saw unusually-strong trading volume on Tuesday . Approximately 906,800 shares were traded during mid-day trading, an increase of 406% from the previous session’s volume of 179,370 shares.The stock last traded at $1.70 and had previously closed at $1.58.

Separately, ValuEngine upgraded Sierra Oncology from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st.

The company has a quick ratio of 14.68, a current ratio of 14.68 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $119.99 million, a P/E ratio of -1.99 and a beta of 1.61.

In other news, Director Andrew R. Allen acquired 66,000 shares of the stock in a transaction that occurred on Monday, December 10th. The stock was purchased at an average cost of $1.64 per share, for a total transaction of $108,240.00. Following the completion of the transaction, the director now directly owns 66,000 shares in the company, valued at $108,240. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.61% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Prosight Management LP boosted its holdings in Sierra Oncology by 50.6% during the third quarter. Prosight Management LP now owns 2,720,089 shares of the biotechnology company’s stock worth $4,624,000 after buying an additional 913,527 shares during the last quarter. Broadfin Capital LLC boosted its holdings in Sierra Oncology by 19.3% during the fourth quarter. Broadfin Capital LLC now owns 4,880,327 shares of the biotechnology company’s stock worth $6,442,000 after buying an additional 789,983 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Sierra Oncology by 42.7% during the third quarter. Citadel Advisors LLC now owns 1,832,042 shares of the biotechnology company’s stock worth $3,114,000 after buying an additional 548,591 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Sierra Oncology by 27.5% during the third quarter. Renaissance Technologies LLC now owns 2,252,244 shares of the biotechnology company’s stock worth $3,829,000 after buying an additional 485,344 shares during the last quarter. Finally, 683 Capital Management LLC boosted its holdings in Sierra Oncology by 20.8% during the fourth quarter. 683 Capital Management LLC now owns 2,173,620 shares of the biotechnology company’s stock worth $2,869,000 after buying an additional 373,620 shares during the last quarter. Hedge funds and other institutional investors own 60.61% of the company’s stock.

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Sierra Oncology Company Profile (NASDAQ:SRRA)

Sierra Oncology, Inc, a clinical stage drug development company, researches, develops, and commercializes DNA Damage Response (DDR) therapeutics for the treatment of patients with cancer in the United States and internationally. The company's lead drug candidate is SRA737, an orally bioavailable small molecule inhibitor of Checkpoint kinase 1, which is in Phase 1 clinical trial to treat patients with advanced cancer.

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