Separately, Zacks Investment Research upgraded shares of Sierra Oncology from a hold rating to a buy rating and set a $1.50 price target for the company in a report on Tuesday, May 14th.
SRRA traded down $0.01 during midday trading on Thursday, reaching $0.50. 237,344 shares of the company’s stock were exchanged, compared to its average volume of 632,554. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 0.06. The firm has a market cap of $38.08 million, a PE ratio of -0.67 and a beta of 1.25. The company’s 50-day moving average price is $0.57. Sierra Oncology has a 1-year low of $0.48 and a 1-year high of $2.70.
A number of institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its holdings in Sierra Oncology by 19.5% in the first quarter. Acadian Asset Management LLC now owns 486,493 shares of the biotechnology company’s stock valued at $831,000 after purchasing an additional 79,388 shares during the period. Virtu Financial LLC acquired a new position in Sierra Oncology during the first quarter valued at approximately $32,000. Finally, Brookstone Capital Management acquired a new position in Sierra Oncology during the first quarter valued at approximately $28,000. Hedge funds and other institutional investors own 63.61% of the company’s stock.
About Sierra Oncology
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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