Sierra Oncology, Inc. (NASDAQ:SRRA) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 278,700 shares, a growth of 366.1% from the December 15th total of 59,800 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average daily trading volume, of 43,800 shares, the short-interest ratio is presently 6.4 days.
NASDAQ SRRA opened at $21.02 on Friday. Sierra Oncology has a twelve month low of $13.68 and a twelve month high of $24.00. The stock has a market capitalization of $316.46 million, a PE ratio of -2.96 and a beta of 0.80. The stock has a 50-day simple moving average of $22.38 and a 200 day simple moving average of $21.03.
Sierra Oncology (NASDAQ:SRRA) last posted its quarterly earnings results on Friday, November 5th. The biotechnology company reported ($2.10) EPS for the quarter, missing the consensus estimate of ($1.78) by ($0.32). As a group, sell-side analysts predict that Sierra Oncology will post -7.08 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of SRRA. Northern Trust Corp raised its holdings in Sierra Oncology by 108.6% in the 2nd quarter. Northern Trust Corp now owns 38,560 shares of the biotechnology company’s stock valued at $750,000 after acquiring an additional 20,074 shares in the last quarter. Opaleye Management Inc. raised its holdings in Sierra Oncology by 9.5% in the 2nd quarter. Opaleye Management Inc. now owns 165,500 shares of the biotechnology company’s stock valued at $3,222,000 after acquiring an additional 14,361 shares in the last quarter. Boothbay Fund Management LLC raised its holdings in Sierra Oncology by 21.2% in the 2nd quarter. Boothbay Fund Management LLC now owns 64,702 shares of the biotechnology company’s stock valued at $1,260,000 after acquiring an additional 11,335 shares in the last quarter. Ikarian Capital LLC raised its holdings in Sierra Oncology by 22.4% in the 2nd quarter. Ikarian Capital LLC now owns 545,002 shares of the biotechnology company’s stock valued at $10,628,000 after acquiring an additional 99,814 shares in the last quarter. Finally, Nan Fung Group Holdings Ltd acquired a new position in Sierra Oncology in the 2nd quarter valued at approximately $2,550,000.
Several equities analysts recently weighed in on SRRA shares. Cantor Fitzgerald boosted their price objective on Sierra Oncology from $33.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 30th. Zacks Investment Research cut Sierra Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, November 13th. Finally, HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Sierra Oncology in a research report on Friday, December 17th.
Sierra Oncology Company Profile
Sierra Oncology, Inc is a clinical stage drug development company of therapeutics for the treatment of cancer. The firm focuses on advancing targeted therapeutics for the treatment of patients with significant unmet medical needs in hematology and oncology. Its product Momelotinib, a selective and orally-bioavailable JAK1, JAK2 & ACVR1 inhibitor with a differentiated therapeutic profile in myelofibrosis encompassing robust constitutional symptom improvements.
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