ADAR1 Capital Management LLC Acquires 1,420,783 Shares of OnKure Therapeutics, Inc. $OKUR

Key Points

• ADAR1 Capital Management increased its OnKure Therapeutics stake by 140.1%, acquiring 1,420,783 additional shares to own 2,434,941 shares, or approximately 6.03% of the company.
• Institutional ownership stands at 90.98%, with several other funds adding new or larger positions during the latest reporting periods.
• Analysts have a consensus “Hold” rating and a $21 target price, while OnKure shares opened at $3.95; the company recently reported a larger-than-expected quarterly loss of $1.11 per share.

ADAR1 Capital Management LLC raised its holdings in shares of OnKure Therapeutics, Inc. (NASDAQ:OKUR - Free Report) by 140.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,434,941 shares of the company's stock after purchasing an additional 1,420,783 shares during the quarter. ADAR1 Capital Management LLC owned approximately 6.03% of OnKure Therapeutics worth $10,081,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC bought a new position in shares of OnKure Therapeutics in the first quarter valued at about $998,000. Renaissance Technologies LLC boosted its holdings in shares of OnKure Therapeutics by 52.5% during the 1st quarter. Renaissance Technologies LLC now owns 377,250 shares of the company's stock worth $1,562,000 after buying an additional 129,900 shares during the period. Hsbc Holdings PLC acquired a new position in OnKure Therapeutics in the 4th quarter valued at about $58,000. XTX Topco Ltd acquired a new position in OnKure Therapeutics in the 4th quarter valued at about $52,000. Finally, Kotler Kevin bought a new position in OnKure Therapeutics in the 4th quarter valued at about $573,000. 90.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OKUR has been the topic of a number of recent research reports. HC Wainwright lowered their target price on OnKure Therapeutics to $21.00 and set a "buy" rating on the stock in a research note on Monday, July 20th. Wall Street Zen raised OnKure Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. JonesTrading cut OnKure Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised OnKure Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, OnKure Therapeutics has a consensus rating of "Hold" and a consensus target price of $21.00.

OnKure Therapeutics Price Performance

Shares of NASDAQ:OKUR opened at $3.95 on Wednesday. The company has a market capitalization of $159.58 million, a P/E ratio of -0.91 and a beta of 0.27. OnKure Therapeutics, Inc. has a 1 year low of $1.91 and a 1 year high of $5.38. The business's 50 day simple moving average is $4.26 and its 200 day simple moving average is $3.79.

OnKure Therapeutics (NASDAQ:OKUR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.37). On average, sell-side analysts anticipate that OnKure Therapeutics, Inc. will post -2.57 EPS for the current fiscal year.

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.

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