ProNAi Therapeutics, Inc. (NASDAQ:SRRA) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 667,290 shares, a drop of 26.7% from the August 15th total of 910,947 shares. Based on an average daily volume of 202,033 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.8% of the company’s stock are sold short.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC purchased a new position in ProNAi Therapeutics in the 1st quarter worth approximately $5,667,000. Frazier Management LLC purchased a new position in ProNAi Therapeutics in the 1st quarter worth approximately $12,412,000. VHCP Management II LLC purchased a new position in ProNAi Therapeutics in the 1st quarter worth approximately $200,000. Sabby Management LLC purchased a new position in ProNAi Therapeutics in the 1st quarter worth approximately $2,672,000. Finally, FMR LLC purchased a new position in ProNAi Therapeutics in the 1st quarter worth approximately $302,000. Hedge funds and other institutional investors own 55.72% of the company’s stock.
Several research analysts have recently commented on the stock. Jefferies Group LLC reissued a “hold” rating on shares of ProNAi Therapeutics in a research note on Thursday, July 27th. ValuEngine raised shares of ProNAi Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research raised shares of ProNAi Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $3.25.
Shares of ProNAi Therapeutics (NASDAQ SRRA) opened at 1.56 on Friday. The company has a 50-day moving average of $1.54 and a 200 day moving average of $1.52. ProNAi Therapeutics has a one year low of $1.31 and a one year high of $2.01. The firm’s market cap is $81.54 million.
ProNAi Therapeutics (NASDAQ:SRRA) last released its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.01. On average, equities research analysts expect that ProNAi Therapeutics will post ($0.91) EPS for the current fiscal year.
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ProNAi Therapeutics Company Profile
Sierra Oncology, Inc, formerly ProNAi Therapeutics, Inc, is a clinical-stage drug development company. The Company’s lead drug candidate, SRA737, is orally bioavailable small molecule inhibitor of Checkpoint kinase 1 (Chk1), a key cell cycle checkpoint and central regulator of the deoxyribonucleic acid (DNA) Damage Response (DDR) network.
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