Sierra Oncology (SRRA) Stock Price Down 23.9%
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.
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.
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.
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