Sierra Oncology, Inc. (NASDAQ:SRRA – Get Rating) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 1,010,000 shares, a drop of 55.9% from the April 15th total of 2,290,000 shares. Based on an average daily trading volume, of 595,100 shares, the short-interest ratio is presently 1.7 days.
A number of equities analysts recently commented on the stock. HC Wainwright downgraded shares of Sierra Oncology from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $51.00 to $55.00 in a research note on Wednesday, April 13th. Zacks Investment Research upgraded Sierra Oncology from a “sell” rating to a “hold” rating in a report on Saturday, January 22nd. Lifesci Capital downgraded Sierra Oncology from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 13th. Oppenheimer lowered shares of Sierra Oncology from an “outperform” rating to a “market perform” rating and increased their price target for the company from $45.00 to $55.00 in a research note on Thursday, April 14th. Finally, Jefferies Financial Group downgraded shares of Sierra Oncology from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $39.00 to $55.00 in a research report on Thursday, April 14th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.00.
SRRA opened at $54.50 on Friday. Sierra Oncology has a 52 week low of $14.91 and a 52 week high of $54.97. The business’s 50 day moving average is $42.66 and its two-hundred day moving average is $30.72. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -8.04 and a beta of 0.01.
In other news, insider William D. Turner sold 3,453 shares of Sierra Oncology stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $37.06, for a total value of $127,968.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mary Christina Thomson sold 2,000 shares of the business’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $35.14, for a total value of $70,280.00. The disclosure for this sale can be found here. Insiders sold a total of 5,553 shares of company stock valued at $201,957 in the last three months. 44.10% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Integral Health Asset Management LLC purchased a new position in shares of Sierra Oncology during the first quarter worth about $962,000. Gyon Technologies Capital Management LP lifted its position in Sierra Oncology by 44.4% during the 1st quarter. Gyon Technologies Capital Management LP now owns 13,906 shares of the biotechnology company’s stock worth $446,000 after acquiring an additional 4,275 shares during the period. BlackRock Inc. grew its stake in shares of Sierra Oncology by 1,812.7% in the 1st quarter. BlackRock Inc. now owns 448,430 shares of the biotechnology company’s stock valued at $14,372,000 after purchasing an additional 424,985 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Sierra Oncology by 138.2% in the first quarter. Citigroup Inc. now owns 17,490 shares of the biotechnology company’s stock valued at $561,000 after purchasing an additional 10,146 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Sierra Oncology during the first quarter worth approximately $791,000. 99.30% of the stock is owned by institutional investors and hedge funds.
About Sierra Oncology (Get Rating)
Sierra Oncology, Inc, a late-stage biopharmaceutical company, engages in researching, developing, and commercializing therapies for the treatment of patients with hematology and oncology needs. Its lead drug candidate, momelotinib, is a selective and orally bioavailable Janus kinase 1 (JAK 1), JAK2, and Activin A receptor type 1 (ACVR1) inhibitor.
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