OnKure Therapeutics (NASDAQ:OKUR) Issues Quarterly Earnings Results

OnKure Therapeutics (NASDAQ:OKUR) issued its quarterly earnings results on Tuesday. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.23, Zacks reports.

OnKure Therapeutics Price Performance

Shares of NASDAQ:OKUR traded up $0.10 on Wednesday, hitting $4.20. 27,538 shares of the company’s stock were exchanged, compared to its average volume of 261,988. The stock has a market capitalization of $169.68 million, a price-to-earnings ratio of -0.97 and a beta of 0.29. OnKure Therapeutics has a 12 month low of $1.91 and a 12 month high of $5.38. The business’s 50 day simple moving average is $4.26 and its two-hundred day simple moving average is $3.82.

Institutional Investors Weigh In On OnKure Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in OnKure Therapeutics in the 2nd quarter worth about $25,000. Jane Street Group LLC bought a new stake in shares of OnKure Therapeutics during the fourth quarter valued at approximately $56,000. Hsbc Holdings PLC purchased a new stake in shares of OnKure Therapeutics in the fourth quarter valued at approximately $58,000. Rangeley Capital LLC bought a new position in OnKure Therapeutics in the second quarter worth approximately $71,000. Finally, Barclays PLC grew its stake in OnKure Therapeutics by 4,286.8% in the fourth quarter. Barclays PLC now owns 27,242 shares of the company’s stock worth $79,000 after purchasing an additional 26,621 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of OnKure Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. JonesTrading lowered OnKure Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. HC Wainwright cut their price objective on OnKure Therapeutics to $21.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Finally, Weiss Ratings downgraded OnKure Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.00.

OnKure Therapeutics Company Profile

OnKure Therapeutics, Inc (NASDAQ: OKUR) is a clinical-stage biopharmaceutical company focused on the development of novel therapies for oncology and autoimmune diseases. Headquartered in Westlake Village, California, OnKure is advancing small molecule drug candidates designed to modulate key signaling pathways implicated in cancer cell growth and immune system function.

The company’s lead oncology asset, OKI-179, is an orally available histone deacetylase (HDAC) inhibitor being evaluated in Phase I and Phase II clinical studies for a range of solid tumors.