Bank of America Corp DE Has $10 Million Stake in Kura Oncology, Inc. $KURA

Key Points

• Bank of America increased its Kura Oncology stake by 46.1% in the first quarter, holding 1.23 million shares worth approximately $10 million, or 1.39% of the company.
• Analysts maintain a generally positive outlook, with 10 Buy ratings, two Holds and one Sell, producing a consensus “Moderate Buy” rating and a $25.62 price target.
• Kura reported a quarterly loss of $0.77 per share, better than the expected $0.88 loss, while revenue of $20.87 million exceeded estimates; the company remains unprofitable with a negative net margin of 384.3%.

Bank of America Corp DE grew its position in shares of Kura Oncology, Inc. (NASDAQ:KURA - Free Report) by 46.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,230,131 shares of the company's stock after buying an additional 388,003 shares during the period. Bank of America Corp DE owned approximately 1.39% of Kura Oncology worth $10,001,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KURA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Kura Oncology by 6.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,008 shares of the company's stock worth $333,000 after acquiring an additional 2,977 shares in the last quarter. Strs Ohio acquired a new stake in Kura Oncology in the first quarter worth $143,000. Legal & General Group Plc increased its position in Kura Oncology by 35.1% in the 2nd quarter. Legal & General Group Plc now owns 72,910 shares of the company's stock valued at $421,000 after buying an additional 18,930 shares in the last quarter. Rhumbline Advisers raised its holdings in Kura Oncology by 13.0% during the second quarter. Rhumbline Advisers now owns 118,896 shares of the company's stock worth $686,000 after buying an additional 13,690 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Kura Oncology by 244.5% during the 2nd quarter. American Century Companies Inc. now owns 232,752 shares of the company's stock valued at $1,343,000 after purchasing an additional 165,189 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Oppenheimer set a $24.00 price objective on shares of Kura Oncology in a research note on Thursday, May 28th. CLSA set a $24.00 price objective on shares of Kura Oncology in a report on Thursday, June 4th. Jefferies Financial Group set a $24.00 price target on Kura Oncology in a research report on Thursday, May 28th. Sanford C. Bernstein set a $24.00 price target on Kura Oncology in a report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kura Oncology in a report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.62.

Insider Transactions at Kura Oncology

In other Kura Oncology news, insider Teresa Brophy Bair sold 31,487 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $12.63, for a total transaction of $397,680.81. Following the completion of the sale, the insider directly owned 195,444 shares in the company, valued at approximately $2,468,457.72. The trade was a 13.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Troy Edward Wilson acquired 100,000 shares of Kura Oncology stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average price of $11.12 per share, with a total value of $1,112,000.00. Following the transaction, the chief executive officer owned 379,194 shares of the company's stock, valued at $4,216,637.28. The trade was a 35.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 7.60% of the company's stock.

Kura Oncology Stock Performance

Kura Oncology stock opened at $11.89 on Monday. Kura Oncology, Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $12.90. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.71 and a current ratio of 4.73. The stock's 50 day simple moving average is $10.53 and its two-hundred day simple moving average is $9.47. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -3.53 and a beta of 0.38.

Kura Oncology (NASDAQ:KURA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.77) earnings per share for the quarter, topping analysts' consensus estimates of ($0.88) by $0.11. The business had revenue of $20.87 million for the quarter, compared to analysts' expectations of $20.16 million. Kura Oncology had a negative net margin of 384.30% and a negative return on equity of 207.18%. As a group, analysts expect that Kura Oncology, Inc. will post -3.23 earnings per share for the current fiscal year.

Kura Oncology Profile

Kura Oncology, Inc NASDAQ: KURA is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted oncology therapies. Headquartered in La Jolla, California, the company leverages expertise in molecular biology and precision medicine to identify key drivers of cancer growth and design small-molecule inhibitors that block those pathways. Kura's research platform integrates genomic insights with medicinal chemistry to advance candidates against well-validated targets in solid tumors and hematologic malignancies.

The company's lead clinical candidate, tipifarnib, is a farnesyltransferase inhibitor being evaluated for the treatment of HRAS-mutant head and neck squamous cell carcinoma and various non-small cell lung cancers.

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