Kura Oncology (NASDAQ:KURA) Stock Price Down 5.8% – What’s Next?

Kura Oncology, Inc. (NASDAQ:KURA) shares fell 5.8% during trading on Tuesday . The stock traded as low as $7.06 and last traded at $6.82. 57,345 shares changed hands during trading, a decline of 96% from the average session volume of 1,551,308 shares. The stock had previously closed at $7.24.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KURA. UBS Group lowered their target price on shares of Kura Oncology from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Bank of America reduced their price target on shares of Kura Oncology from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Kura Oncology in a research report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Kura Oncology in a research report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Kura Oncology from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

Kura Oncology Price Performance

The business’s 50 day moving average is $7.92 and its two-hundred day moving average is $13.08. The firm has a market cap of $630.70 million, a P/E ratio of -3.30 and a beta of 0.85. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 0.02.

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

Insider Buying and Selling at Kura Oncology

In other news, SVP Thomas James Doyle sold 4,949 shares of Kura Oncology stock in a transaction dated Tuesday, January 28th. The shares were 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 directly owns 88,193 shares in the company, valued at $694,078.91. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mollie Leoni sold 4,963 shares of Kura Oncology stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $7.87, for a total transaction of $39,058.81. Following the transaction, the insider now owns 88,253 shares of the company’s stock, valued at $694,551.11. This represents a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,729 shares of company stock valued at $92,307. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KURA. RA Capital Management L.P. purchased a new position in Kura Oncology in the fourth quarter valued at about $38,769,000. Millennium Management LLC boosted its stake in Kura Oncology by 180.1% in the fourth quarter. Millennium Management LLC now owns 2,367,148 shares of the company’s stock valued at $20,618,000 after acquiring an additional 1,521,954 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Kura Oncology in the fourth quarter valued at about $8,518,000. Marshall Wace LLP bought a new stake in shares of Kura Oncology in the fourth quarter valued at approximately $8,265,000. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Kura Oncology by 172.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,151,195 shares of the company’s stock valued at $10,027,000 after purchasing an additional 727,987 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.