ProNAi Therapeutics, Inc. (NASDAQ:SRRA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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. “

SRRA has been the subject of several other reports. Jefferies Group LLC reissued a “hold” rating on shares of ProNAi Therapeutics in a report on Thursday, July 27th. ValuEngine raised ProNAi Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $4.00.

Shares of ProNAi Therapeutics (SRRA) opened at 2.14 on Thursday. The firm’s market capitalization is $111.85 million. The company’s 50-day moving average price is $1.67 and its 200 day moving average price is $1.42. ProNAi Therapeutics has a 12-month low of $1.10 and a 12-month high of $2.20.

ProNAi Therapeutics (NASDAQ:SRRA) last released its earnings results on Thursday, August 10th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01. On average, equities analysts forecast that ProNAi Therapeutics will post ($0.89) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in SRRA. Frazier Management LLC bought a new position in ProNAi Therapeutics during the first quarter valued at $12,412,000. Perceptive Advisors LLC bought a new position in ProNAi Therapeutics during the first quarter valued at $5,667,000. Sabby Management LLC bought a new position in ProNAi Therapeutics during the first quarter valued at $2,672,000. PNC Financial Services Group Inc. bought a new position in ProNAi Therapeutics during the first quarter valued at $1,142,000. Finally, Nexthera Capital LP bought a new position in ProNAi Therapeutics during the first quarter valued at $612,000. 55.72% of the stock is owned by institutional investors and hedge funds.

About ProNAi Therapeutics

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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