Jennison Associates LLC Purchases 67,035 Shares of Kura Oncology, Inc. (NASDAQ:KURA)

Jennison Associates LLC increased its position in shares of Kura Oncology, Inc. (NASDAQ:KURA - Free Report) by 93.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,532 shares of the company's stock after buying an additional 67,035 shares during the period. Jennison Associates LLC owned about 0.17% of Kura Oncology worth $914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Kura Oncology by 14.6% during the 4th quarter. Vanguard Group Inc. now owns 4,818,898 shares of the company's stock worth $41,973,000 after buying an additional 615,211 shares during the period. RA Capital Management L.P. purchased a new stake in Kura Oncology during the 4th quarter worth $38,769,000. Millennium Management LLC increased its stake in Kura Oncology by 180.1% during the 4th quarter. Millennium Management LLC now owns 2,367,148 shares of the company's stock worth $20,618,000 after buying an additional 1,521,954 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Kura Oncology by 35.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,425,960 shares of the company's stock worth $12,419,000 after purchasing an additional 372,196 shares during the last quarter. Finally, Prosight Management LP increased its position in shares of Kura Oncology by 87.9% in the 4th quarter. Prosight Management LP now owns 1,325,000 shares of the company's stock worth $11,541,000 after purchasing an additional 619,891 shares during the last quarter.

Kura Oncology Trading Up 1.0%

Shares of KURA stock traded up $0.07 during trading hours on Thursday, reaching $6.51. 640,567 shares of the stock traded hands, compared to its average volume of 1,404,328. Kura Oncology, Inc. has a 1-year low of $5.41 and a 1-year high of $21.60. The business has a fifty day moving average price of $6.15 and a 200 day moving average price of $6.81. The company has a quick ratio of 8.07, a current ratio of 8.07 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $563.14 million, a PE ratio of -3.11 and a beta of 0.40.

Kura Oncology (NASDAQ:KURA - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.15). The business had revenue of $14.11 million for the quarter, compared to analysts' expectations of $39.08 million. On average, equities research analysts forecast that Kura Oncology, Inc. will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

KURA has been the subject of several research analyst reports. JMP Securities reissued a "market outperform" rating and issued a $28.00 target price on shares of Kura Oncology in a research report on Wednesday, June 4th. Barclays lowered their price objective on shares of Kura Oncology from $32.00 to $11.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald reissued an "overweight" rating on shares of Kura Oncology in a research note on Thursday, June 26th. Wedbush reissued an "outperform" rating and set a $36.00 target price on shares of Kura Oncology in a research note on Friday, June 20th. Finally, Wall Street Zen lowered shares of Kura Oncology from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $24.50.

Kura Oncology Company 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.