Kura Oncology (NASDAQ:KURA) Reaches New 52-Week Low – Here’s Why

Kura Oncology, Inc. (NASDAQ:KURA)’s share price reached a new 52-week low on Tuesday . The company traded as low as $6.34 and last traded at $6.38, with a volume of 434096 shares traded. The stock had previously closed at $6.60.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KURA shares. Wedbush reissued an “outperform” rating and issued a $36.00 target price on shares of Kura Oncology in a report on Thursday, February 27th. BTIG Research cut shares of Kura Oncology from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $28.00 price objective on shares of Kura Oncology in a report on Thursday, February 6th. StockNews.com raised Kura Oncology from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. Finally, HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Kura Oncology in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Kura Oncology currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Kura Oncology Stock Down 3.6 %

The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $7.81 and a 200-day moving average price of $11.85. The firm has a market cap of $514.01 million, a price-to-earnings ratio of -2.69 and a beta of 0.85.

Kura Oncology (NASDAQ:KURA) last announced its earnings results on Wednesday, February 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.43. The business had revenue of $53.88 million for the quarter, compared to analyst estimates of $57.96 million. On average, equities analysts forecast that Kura Oncology, Inc. will post -2.44 EPS for the current year.

Insider Activity at Kura Oncology

In related news, SVP Thomas James Doyle sold 4,949 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $7.87, for a total transaction of $38,948.63. Following the transaction, the senior vice president now owns 88,193 shares of the company’s stock, valued at approximately $694,078.91. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mollie Leoni sold 4,963 shares of Kura Oncology stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $7.87, for a total transaction of $39,058.81. Following the completion of the sale, the insider now directly owns 88,253 shares of the company’s stock, valued at $694,551.11. The trade was a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,729 shares of company stock valued at $92,307. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kura Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in KURA. Vanguard Group Inc. lifted its position in Kura Oncology by 14.6% during the fourth quarter. Vanguard Group Inc. now owns 4,818,898 shares of the company’s stock worth $41,973,000 after buying an additional 615,211 shares during the period. RA Capital Management L.P. purchased a new position in shares of Kura Oncology during the 4th quarter worth about $38,769,000. Millennium Management LLC boosted its position in shares of Kura Oncology by 180.1% in the fourth quarter. Millennium Management LLC now owns 2,367,148 shares of the company’s stock worth $20,618,000 after acquiring an additional 1,521,954 shares during the last quarter. Geode Capital Management LLC grew its holdings in Kura Oncology by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,780,509 shares of the company’s stock valued at $34,798,000 after purchasing an additional 41,535 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Kura Oncology by 1.5% in the third quarter. Franklin Resources Inc. now owns 1,588,401 shares of the company’s stock valued at $28,687,000 after purchasing an additional 23,113 shares during the period.

About Kura Oncology

Kura Oncology, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer. The company’s pipeline consists of small molecule product candidates that target cancer. Its lead product candidates are ziftomenib, an orally bioavailable small molecule inhibitor of the menin-KMT2A interaction for the treatment of genetically defined subsets of acute leukemias, including acute myeloid leukemia and acute lymphoblastic leukemia; tipifarnib, an orally bioavailable farnesyl transferase inhibitor combination with alpelisib for patients with PIK3CA-dependent HNSCC; and KO-2806, a farnesyl transferase inhibitor for the treatment of solid tumors.