Shares of Sierra Oncology Inc (NASDAQ:SRRA) were down 23.9% on Monday . The company traded as low as $0.82 and last traded at $0.86. Approximately 3,321,749 shares changed hands during mid-day trading, an increase of 760% from the average daily volume of 386,287 shares. The stock had previously closed at $1.13.

A number of analysts recently weighed in on SRRA shares. Zacks Investment Research raised shares of Sierra Oncology from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research note on Wednesday, April 17th. Wedbush reaffirmed an “outperform” rating on shares of Sierra Oncology in a research note on Thursday, February 28th.

The company has a market capitalization of $84.40 million, a price-to-earnings ratio of -1.15 and a beta of 1.80. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 0.06.

Sierra Oncology (NASDAQ:SRRA) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.04. On average, analysts predict that Sierra Oncology Inc will post -0.83 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Brookstone Capital Management purchased a new stake in Sierra Oncology in the first quarter worth about $28,000. Virtu Financial LLC purchased a new stake in Sierra Oncology in the first quarter worth about $32,000. Blair William & Co. IL lifted its stake in Sierra Oncology by 73.3% in the first quarter. Blair William & Co. IL now owns 29,319 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 12,400 shares during the period. Acadian Asset Management LLC lifted its stake in Sierra Oncology by 5.4% in the fourth quarter. Acadian Asset Management LLC now owns 407,105 shares of the biotechnology company’s stock worth $538,000 after acquiring an additional 20,754 shares during the period. Finally, Morgan Stanley lifted its stake in Sierra Oncology by 11.3% in the third quarter. Morgan Stanley now owns 992,516 shares of the biotechnology company’s stock worth $1,687,000 after acquiring an additional 100,709 shares during the period. 63.63% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Sierra Oncology (SRRA) Stock Price Down 23.9%” was posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/sierra-oncology-srra-stock-price-down-23-9/3030588.html.

Sierra Oncology Company Profile (NASDAQ:SRRA)

Sierra Oncology, Inc, a clinical stage drug development company, is advancing targeted therapeutics for the treatment of patients with unmet medical needs in hematology and oncology. Its lead drug candidate, momelotinib, is a selective and orally-bioavailable JAK1, JAK2, and ACVR1 inhibitor that has been investigated in two completed Phase 3 trials for the treatment of myelofibrosis and has demonstrated a differentiated therapeutic profile encompassing anemia-related benefits, as well as achieving substantive splenic volume reduction and constitutional symptom control.

Featured Article: Analyzing a company’s cash flow statement

Receive News & Ratings for Sierra Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Oncology and related companies with MarketBeat.com's FREE daily email newsletter.