Sierra Oncology (NASDAQ:SRRA) Sees Strong Trading Volume

Shares of Sierra Oncology Inc (NASDAQ:SRRA) saw strong trading volume on Friday . 2,446,079 shares were traded during trading, an increase of 279% from the previous session’s volume of 644,858 shares.The stock last traded at $0.65 and had previously closed at $0.57.

Several equities analysts have recently issued reports on the stock. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th.

The company has a debt-to-equity ratio of 0.06, a current ratio of 13.07 and a quick ratio of 13.07. The firm has a 50-day simple moving average of $0.76. The stock has a market cap of $42.57 million, a P/E ratio of -0.87 and a beta of 1.25.

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

Several institutional investors and hedge funds have recently bought and sold shares of SRRA. Brookstone Capital Management acquired a new stake in Sierra Oncology in the first quarter worth $28,000. Virtu Financial LLC acquired a new position in shares of Sierra Oncology during the first quarter valued at about $32,000. Acadian Asset Management LLC grew its holdings in shares of Sierra Oncology by 19.5% during the first quarter. Acadian Asset Management LLC now owns 486,493 shares of the biotechnology company’s stock valued at $831,000 after buying an additional 79,388 shares during the last quarter. Morgan Stanley grew its holdings in shares of Sierra Oncology by 11.3% during the third quarter. Morgan Stanley now owns 992,516 shares of the biotechnology company’s stock valued at $1,687,000 after buying an additional 100,709 shares during the last quarter. Finally, 683 Capital Management LLC grew its holdings in shares of 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 valued at $2,869,000 after buying an additional 373,620 shares during the last quarter. Institutional investors own 63.63% of the company’s stock.

About Sierra Oncology (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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