Acadian Asset Management LLC Acquires 192,757 Shares of Sierra Oncology Inc (SRRA)

Acadian Asset Management LLC raised its holdings in shares of Sierra Oncology Inc (NASDAQ:SRRA) by 156.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 315,627 shares of the biotechnology company’s stock after purchasing an additional 192,757 shares during the period. Acadian Asset Management LLC owned 0.42% of Sierra Oncology worth $934,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Sierra Oncology in the 4th quarter valued at $144,000. DRW Securities LLC grew its position in Sierra Oncology by 100.0% during the 1st quarter. DRW Securities LLC now owns 80,000 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 40,000 shares during the period. UBS Group AG acquired a new stake in Sierra Oncology during the 1st quarter worth about $111,000. Bank of New York Mellon Corp acquired a new stake in Sierra Oncology during the 4th quarter worth about $280,000. Finally, DAFNA Capital Management LLC acquired a new stake in Sierra Oncology during the 1st quarter worth about $166,000. 65.57% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the company. Zacks Investment Research raised Sierra Oncology from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. BidaskClub raised Sierra Oncology from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th.

SRRA traded up $0.02 during midday trading on Friday, hitting $1.76. 205,500 shares of the company were exchanged, compared to its average volume of 537,078. The company has a market capitalization of $129.36 million, a P/E ratio of -2.10 and a beta of 2.47. Sierra Oncology Inc has a 1-year low of $1.45 and a 1-year high of $4.09.

Sierra Oncology (NASDAQ:SRRA) last announced its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). analysts predict that Sierra Oncology Inc will post -0.71 earnings per share for the current fiscal year.

Sierra Oncology Profile

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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Institutional Ownership by Quarter for Sierra Oncology (NASDAQ:SRRA)

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