Kura Oncology, Inc. $KURA Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 1.16 million Kura Oncology shares worth approximately $12.7 million in the second quarter, giving it a 1.31% stake. Several other institutional investors also increased or initiated positions.
• Kura Oncology reported a quarterly loss of $0.77 per share, beating estimates of $0.88, while revenue of $20.87 million topped expectations. The stock opened at $10.76, with analysts assigning a “Moderate Buy” consensus rating and an average price target of $25.40.
• Insider activity was mixed: CEO Troy Wilson purchased 100,000 shares, while insider Teresa Bair sold 31,487 shares. Kura is developing precision cancer medicines, including the menin inhibitor ziftomenib for genetically defined acute myeloid leukemia.

Bank of America Corp DE purchased a new position in shares of Kura Oncology, Inc. (NASDAQ:KURA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,160,921 shares of the company's stock, valued at approximately $12,735,000. Bank of America Corp DE owned 1.31% of Kura Oncology as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Kura Oncology by 32.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,425,945 shares of the company's stock valued at $11,591,000 after purchasing an additional 348,127 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Kura Oncology by 69.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 568,845 shares of the company's stock worth $6,240,000 after buying an additional 233,633 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in Kura Oncology in the 2nd quarter valued at about $2,851,000. Janney Montgomery Scott LLC increased its position in Kura Oncology by 285.6% during the first quarter. Janney Montgomery Scott LLC now owns 158,850 shares of the company's stock worth $1,291,000 after buying an additional 117,650 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kura Oncology during the second quarter worth $10,927,000.

Kura Oncology Stock Down 0.9%

Shares of Kura Oncology stock opened at $10.76 on Friday. Kura Oncology, Inc. has a 1-year low of $7.36 and a 1-year high of $13.90. The company has a market capitalization of $957.21 million, a PE ratio of -3.19 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.73 and a quick ratio of 4.71. The business has a 50-day moving average of $11.22 and a 200-day moving average of $10.13.

Kura Oncology (NASDAQ:KURA - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.88) by $0.11. The company had revenue of $20.87 million for the quarter, compared to analyst estimates of $20.16 million. Kura Oncology had a negative return on equity of 207.18% and a negative net margin of 384.30%. As a group, equities analysts forecast that Kura Oncology, Inc. will post -3.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on KURA shares. Wells Fargo & Company set a $24.00 price objective on Kura Oncology in a research report on Thursday, June 4th. CLSA set a $24.00 target price on shares of Kura Oncology in a research report on Thursday, June 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kura Oncology in a research note on Friday, July 17th. Morgan Stanley set a $24.00 price target on Kura Oncology in a report on Monday, August 24th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Kura Oncology in a research report on Thursday, June 4th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $25.40.

Insider Activity at Kura Oncology

In other Kura Oncology news, insider Teresa Bair sold 31,487 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $12.63, for a total transaction of $397,680.81. Following the transaction, the insider owned 195,444 shares of the company's stock, valued at $2,468,457.72. This trade represents a 13.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Troy Wilson bought 100,000 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was 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 in the company, valued at approximately $4,216,637.28. This represents a 35.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 56,558 shares of company stock worth $673,805. 7.60% of the stock is currently owned by company insiders.

Kura Oncology Profile

Kura Oncology, Inc is a biopharmaceutical company focused on developing precision medicines for the treatment of cancer. The company's research programs target specific genetic and molecular abnormalities that contribute to tumor growth, with an emphasis on hematologic malignancies and selected solid tumors.

Kura's leading program has been ziftomenib, an oral, selective menin inhibitor being developed for genetically defined forms of acute myeloid leukemia, including cancers with NPM1 mutations or certain KMT2A rearrangements.

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