Hsbc Holdings PLC Invests $1.05 Million in Kura Oncology, Inc. $KURA

Key Points

• HSBC Holdings PLC acquired a new 94,810-share stake in Kura Oncology valued at approximately $1.05 million, while BlackRock and other major institutions also increased or initiated positions.
• Analysts maintain a generally positive outlook, with 10 Buy ratings, two Holds and one Sell; Kura has a consensus “Moderate Buy” rating and a $25.40 average price target.
• Kura reported a quarterly loss of $0.77 per share, outperforming estimates, and revenue of $20.87 million. The CEO also bought 100,000 shares, although another insider sold 4,345 shares.

Hsbc Holdings PLC acquired a new stake in Kura Oncology, Inc. (NASDAQ:KURA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 94,810 shares of the company's stock, valued at approximately $1,055,000. Hsbc Holdings PLC owned about 0.11% of Kura Oncology at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Kura Oncology during the second quarter worth about $115,286,000. Suvretta Capital Management LLC boosted its position in shares of Kura Oncology by 5.7% in the fourth quarter. Suvretta Capital Management LLC now owns 8,575,422 shares of the company's stock worth $89,099,000 after acquiring an additional 459,422 shares during the last quarter. Vanguard Group Inc. grew its holdings in Kura Oncology by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,507,627 shares of the company's stock valued at $57,224,000 after purchasing an additional 39,105 shares during the period. Armistice Capital LLC grew its holdings in Kura Oncology by 5.7% in the fourth quarter. Armistice Capital LLC now owns 4,936,000 shares of the company's stock valued at $51,285,000 after purchasing an additional 264,000 shares during the period. Finally, State Street Corp increased its position in Kura Oncology by 47.5% during the fourth quarter. State Street Corp now owns 4,931,090 shares of the company's stock worth $51,234,000 after purchasing an additional 1,587,959 shares during the last quarter.

Analyst Upgrades and Downgrades

KURA has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kura Oncology in a research note on Friday, July 17th. Wells Fargo & Company set a $24.00 price objective on Kura Oncology in a report on Thursday, June 4th. Wedbush upped their price objective on Kura Oncology from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, August 13th. CLSA set a $24.00 target price on Kura Oncology in a report on Thursday, June 4th. Finally, Oppenheimer set a $24.00 price target on Kura Oncology in a research report on Thursday, May 28th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.40.

Kura Oncology Price Performance

KURA opened at $12.65 on Tuesday. The company has a quick ratio of 4.71, a current ratio of 4.73 and a debt-to-equity ratio of 0.12. Kura Oncology, Inc. has a 52-week low of $7.36 and a 52-week high of $13.90. The company has a 50 day moving average of $10.91 and a two-hundred day moving average of $9.68. The company has a market cap of $1.13 billion, a P/E ratio of -3.75 and a beta of 0.38.

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

Insider Buying and Selling

In other Kura Oncology news, insider Brian T. Powl sold 4,345 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $11.89, for a total transaction of $51,662.05. Following the transaction, the insider owned 169,269 shares in the company, valued at $2,012,608.41. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Troy Edward Wilson bought 100,000 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $12.39 per share, with a total value of $1,239,000.00. Following the transaction, the chief executive officer directly owned 479,194 shares of the company's stock, valued at approximately $5,937,213.66. This trade represents a 26.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 120,761 shares of company stock valued at $1,283,346 in the last 90 days. 7.60% of the stock is currently owned by company insiders.

About Kura Oncology

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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