Kura Oncology (NASDAQ:KURA) Trading 4.1% Higher – Here’s What Happened

Kura Oncology, Inc. (NASDAQ:KURA)’s stock price traded up 4.1% during mid-day trading on Thursday . The stock traded as high as $7.47 and last traded at $7.57. 30,728 shares changed hands during trading, a decline of 97% from the average session volume of 1,051,821 shares. The stock had previously closed at $7.27.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KURA. Jefferies Financial Group reduced their target price on shares of Kura Oncology from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Cantor Fitzgerald raised Kura Oncology to a “strong-buy” rating in a report on Tuesday, March 4th. Wedbush restated an “outperform” rating and set a $36.00 target price on shares of Kura Oncology in a research report on Thursday, February 27th. StockNews.com lowered shares of Kura Oncology from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Kura Oncology in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.50.

Kura Oncology Stock Up 5.3 %

The company has a market cap of $618.26 million, a P/E ratio of -3.24 and a beta of 0.85. The stock has a 50-day moving average of $7.81 and a two-hundred day moving average of $12.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 11.47 and a current ratio of 11.47.

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

Insider Activity

In other news, insider Mollie Leoni sold 4,963 shares of the 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 owns 88,253 shares of the company’s stock, valued at approximately $694,551.11. This represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Thomas James Doyle sold 4,949 shares of the firm’s 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 $38,948.63. Following the completion of the transaction, the senior vice president now owns 88,193 shares in the company, valued at $694,078.91. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,729 shares of company stock valued at $92,307. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kura Oncology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtus ETF Advisers LLC increased its holdings in Kura Oncology by 71.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 7,336 shares of the company’s stock valued at $64,000 after purchasing an additional 3,061 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Kura Oncology in the 3rd quarter worth approximately $146,000. Harbor Advisors LLC bought a new stake in shares of Kura Oncology in the 4th quarter worth approximately $87,000. E Fund Management Co. Ltd. purchased a new position in Kura Oncology during the 4th quarter valued at $90,000. Finally, Erste Asset Management GmbH purchased a new stake in Kura Oncology in the third quarter worth about $215,000.

Kura Oncology Company Profile

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.