Zacks Investment Research downgraded shares of Sierra Oncology (NASDAQ:SRRA) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports.
According to Zacks, “Sierra Oncology, Inc. is a clinical-stage drug development company. It develops and markets drugs for the treatment of cancer. The product pipeline consists of SRA737 and SRA141. SRA737 is an orally bioavailable small molecule inhibitor of Checkpoint kinase 1, a key cell cycle checkpoint and central regulator of the DNA Damage Response network. SRA141 is an orally available small molecule inhibitor of cell division cycle 7kinase. Sierra Oncology, Inc., formerly known as ProNAi Therapeutics, Inc., is headquatered in Vancouver, Canada. “
Separately, ValuEngine raised Sierra Oncology from a hold rating to a buy rating in a research report on Wednesday, October 2nd.
NASDAQ:SRRA traded up $0.02 during trading hours on Thursday, hitting $0.33. 324,741 shares of the company traded hands, compared to its average volume of 564,613. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $0.41 and its 200-day simple moving average is $0.85. Sierra Oncology has a one year low of $0.29 and a one year high of $2.01. The company has a market cap of $24.21 million, a PE ratio of -0.44 and a beta of 1.28.
Sierra Oncology (NASDAQ:SRRA) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). As a group, equities research analysts expect that Sierra Oncology will post -0.81 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in shares of Sierra Oncology by 84.8% during the 2nd quarter. Acadian Asset Management LLC now owns 899,221 shares of the biotechnology company’s stock valued at $504,000 after purchasing an additional 412,728 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Sierra Oncology by 22.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,312,634 shares of the biotechnology company’s stock valued at $1,295,000 after purchasing an additional 417,300 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Sierra Oncology by 981.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 43,703 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 39,661 shares during the last quarter. 52.28% of the stock is owned by hedge funds and other institutional investors.
Sierra Oncology Company Profile
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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