Platinum Investment Management Ltd. Buys 34,659 Shares of Kura Oncology, Inc. (NASDAQ:KURA)

Platinum Investment Management Ltd. grew its stake in Kura Oncology, Inc. (NASDAQ:KURA) by 82.8% in the fourth quarter, HoldingsChannel reports. The fund owned 76,533 shares of the company’s stock after acquiring an additional 34,659 shares during the period. Platinum Investment Management Ltd.’s holdings in Kura Oncology were worth $667,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Kura Oncology by 35.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,655 shares of the company’s stock valued at $579,000 after purchasing an additional 7,722 shares during the period. Intech Investment Management LLC bought a new stake in shares of Kura Oncology during the third quarter worth $298,000. Charles Schwab Investment Management Inc. increased its position in shares of Kura Oncology by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 624,952 shares of the company’s stock worth $12,212,000 after acquiring an additional 14,106 shares in the last quarter. Algert Global LLC increased its position in shares of Kura Oncology by 4.4% during the third quarter. Algert Global LLC now owns 272,276 shares of the company’s stock worth $5,320,000 after acquiring an additional 11,493 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Kura Oncology during the third quarter worth $596,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on KURA. UBS Group decreased their target price 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. Wedbush reissued an “outperform” rating and issued a $36.00 target price on shares of Kura Oncology in a report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and set a $28.00 target price on shares of Kura Oncology in a research report on Thursday, February 6th. BTIG Research downgraded shares of Kura Oncology from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded shares of Kura Oncology to a “strong-buy” rating in a research report on Tuesday, March 4th. 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’s stock. According to MarketBeat, Kura Oncology currently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

Kura Oncology Stock Performance

Shares of KURA stock opened at $7.34 on Wednesday. The stock has a fifty day moving average of $7.82 and a 200 day moving average of $12.65. Kura Oncology, Inc. has a 52 week low of $6.79 and a 52 week high of $23.48. The firm has a market capitalization of $592.74 million, a price-to-earnings ratio of -3.11 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 posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.43. The company had revenue of $53.88 million during the quarter, compared to analysts’ expectations of $57.96 million. As a group, research analysts expect that Kura Oncology, Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling at Kura Oncology

In related news, insider Mollie Leoni sold 4,963 shares of the business’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 value of $39,058.81. Following the transaction, the insider now directly owns 88,253 shares of the company’s stock, valued at approximately $694,551.11. The trade was a 5.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Thomas James Doyle sold 4,949 shares of the business’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 value 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 approximately $694,078.91. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,729 shares of company stock worth $92,307 in the last three months. 5.50% of the stock is currently owned by company insiders.

Kura Oncology 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.