Kura Oncology (NASDAQ:KURA) Trading Down 2.7% – Here’s Why

Kura Oncology, Inc. (NASDAQ:KURA)’s stock price dropped 2.7% during mid-day trading on Monday . The stock traded as low as $7.69 and last traded at $7.63. Approximately 44,364 shares changed hands during trading, a decline of 96% from the average daily volume of 1,057,173 shares. The stock had previously closed at $7.84.

Analysts Set New Price Targets

Several brokerages recently issued reports on KURA. Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Kura Oncology in a report on Thursday, February 27th. Scotiabank reduced their target price on shares of Kura Oncology from $18.00 to $10.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Kura Oncology in a research report on Thursday, February 27th. UBS Group reduced their price objective on shares of Kura Oncology from $27.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $28.00 target price on shares of Kura Oncology in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Kura Oncology presently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

Kura Oncology Trading Down 6.9 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 11.47 and a quick ratio of 11.47. The firm has a fifty day simple moving average of $7.83 and a two-hundred day simple moving average of $12.21. The firm has a market capitalization of $574.98 million, a P/E ratio of -3.02 and a beta of 0.85.

Kura Oncology (NASDAQ:KURA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.43. The firm had revenue of $53.88 million during the quarter, compared to analysts’ expectations of $57.96 million. On average, equities research analysts anticipate that Kura Oncology, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Activity

In other Kura Oncology news, SVP Thomas James Doyle sold 4,949 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 88,193 shares of the company’s stock, valued at $694,078.91. The trade was a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mollie Leoni sold 4,963 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $7.87, for a total value of $39,058.81. Following the sale, the insider now owns 88,253 shares in the company, valued at approximately $694,551.11. This represents a 5.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,729 shares of company stock valued at $92,307 over the last quarter. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KURA. Suvretta Capital Management LLC lifted its holdings in shares of Kura Oncology by 8.2% in the third quarter. Suvretta Capital Management LLC now owns 7,652,782 shares of the company’s stock worth $149,535,000 after buying an additional 583,155 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Kura Oncology by 14.6% in the 4th quarter. Vanguard Group Inc. now owns 4,818,898 shares of the company’s stock valued at $41,973,000 after purchasing 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 valued at $38,769,000. Millennium Management LLC increased its holdings 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 purchasing an additional 1,521,954 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Kura Oncology by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,780,509 shares of the company’s stock worth $34,798,000 after buying an additional 41,535 shares in the last quarter.

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.