Kura Oncology (NASDAQ:KURA) Stock Price Up 5.5% – Here’s Why

Kura Oncology, Inc. (NASDAQ:KURA) shares were up 5.5% on Monday . The stock traded as high as $6.19 and last traded at $6.23. Approximately 79,864 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,515,990 shares. The stock had previously closed at $5.90.

Analysts Set New Price Targets

Several equities research analysts have commented on KURA shares. UBS Group dropped their price objective 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. Cantor Fitzgerald raised shares of Kura Oncology to a “strong-buy” rating in a report on Tuesday, March 4th. JMP Securities restated a “market outperform” rating and issued a $28.00 target price on shares of Kura Oncology in a research note on Thursday, February 6th. StockNews.com raised shares of Kura Oncology from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Kura Oncology in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.50.

Kura Oncology Trading Up 6.1 %

The company has a market capitalization of $505.67 million, a PE ratio of -2.65 and a beta of 0.83. The stock has a fifty day moving average of $7.07 and a two-hundred day moving average of $10.34. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 0.02.

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 analysts’ consensus estimates of ($0.65) by $0.43. The business had revenue of $53.88 million during the quarter, compared to the consensus estimate of $57.96 million. As a group, sell-side analysts anticipate that Kura Oncology, Inc. will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Thomas James Doyle sold 4,949 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 $38,948.63. Following the completion of the sale, the senior vice president now owns 88,193 shares of the company’s stock, valued at approximately $694,078.91. This represents a 5.31 % 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, insider Mollie Leoni sold 4,963 shares of Kura Oncology stock in a transaction 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 transaction, the insider now directly owns 88,253 shares in the company, valued at approximately $694,551.11. The trade was a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,729 shares of company stock valued at $92,307 over the last three months. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KURA. Exchange Traded Concepts LLC grew its position in shares of Kura Oncology by 117.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 17,474 shares of the company’s stock worth $115,000 after buying an additional 9,450 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Kura Oncology during the 1st quarter valued at $139,000. Assenagon Asset Management S.A. raised its holdings in Kura Oncology by 1.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 919,079 shares of the company’s stock worth $6,066,000 after purchasing an additional 13,895 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Kura Oncology in the 1st quarter worth about $66,000. Finally, Rhumbline Advisers lifted its position in shares of Kura Oncology by 5.2% in the 1st quarter. Rhumbline Advisers now owns 105,206 shares of the company’s stock worth $694,000 after purchasing an additional 5,215 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.