RA Capital Management L.P. Reduces Stock Position in Kura Oncology, Inc. $KURA

Key Points

• RA Capital Management L.P. reduced its stake in Kura Oncology, Inc. by 10.0% in the first quarter, selling 446,431 shares, which now constitutes approximately 4.63% of the company's shares.
• Recent analyst ratings for Kura Oncology vary, with JMP Securities lowering their target price from $28.00 to $24.00 while Wedbush maintains an "outperform" rating with a target of $36.00.
• Kura Oncology reported a substantial earnings miss for the last quarter, with an EPS of ($0.75) against a consensus estimate of $0.15, as revenue fell significantly short at $15.29 million compared to expectations of $64.95 million.

RA Capital Management L.P. cut its position in Kura Oncology, Inc. (NASDAQ:KURA - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,004,610 shares of the company's stock after selling 446,431 shares during the period. RA Capital Management L.P. owned about 4.63% of Kura Oncology worth $26,430,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in KURA. Millennium Management LLC increased its position in shares of Kura Oncology by 180.1% during the fourth quarter. Millennium Management LLC now owns 2,367,148 shares of the company's stock worth $20,618,000 after acquiring an additional 1,521,954 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Kura Oncology during the 4th quarter worth about $8,518,000. Armistice Capital LLC lifted its stake in shares of Kura Oncology by 13.3% during the 1st quarter. Armistice Capital LLC now owns 6,572,000 shares of the company's stock worth $43,375,000 after buying an additional 772,000 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Kura Oncology by 172.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,151,195 shares of the company's stock worth $10,027,000 after purchasing an additional 727,987 shares in the last quarter. Finally, Prosight Management LP raised its stake in 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 in the last quarter.

Kura Oncology Price Performance

Kura Oncology stock traded up $0.09 during mid-day trading on Friday, hitting $8.22. 1,304,562 shares of the company traded hands, compared to its average volume of 1,955,150. The stock has a fifty day moving average price of $6.66 and a 200-day moving average price of $6.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.16 and a current ratio of 6.16. The stock has a market cap of $713.50 million, a price-to-earnings ratio of -3.64 and a beta of 0.19. Kura Oncology, Inc. has a one year low of $5.41 and a one year high of $21.40.

Kura Oncology (NASDAQ:KURA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.90). The firm had revenue of $15.29 million for the quarter, compared to analysts' expectations of $64.95 million. On average, equities analysts predict that Kura Oncology, Inc. will post -2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KURA has been the topic of several research reports. Wall Street Zen raised shares of Kura Oncology from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Mizuho dropped their price objective on shares of Kura Oncology from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Guggenheim began coverage on shares of Kura Oncology in a report on Thursday. They set a "neutral" rating on the stock. Wedbush reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Kura Oncology in a research report on Friday, June 20th. Finally, JMP Securities reduced their price objective on shares of Kura Oncology from $28.00 to $24.00 and set a "market outperform" rating for the company in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Kura Oncology presently has an average rating of "Moderate Buy" and an average target price of $24.10.

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.