Armistice Capital LLC Has $43.38 Million Stock Position in Kura Oncology, Inc. $KURA

Key Points

• Armistice Capital LLC increased its stake in Kura Oncology, Inc. by 13.3%, owning approximately 6,572,000 shares worth $43.4 million as of the latest SEC filing.
• Analysts have varied expectations for Kura Oncology, with a consensus rating of "Moderate Buy" and an average target price of $24.10, despite recent downgrades from some analysts.
• Kura Oncology reported ($0.75) EPS for the last quarter, significantly missing estimates and generating only $15.29 million in revenue compared to the expected $64.95 million.

Armistice Capital LLC increased its stake in shares of Kura Oncology, Inc. (NASDAQ:KURA - Free Report) by 13.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,572,000 shares of the company's stock after acquiring an additional 772,000 shares during the quarter. Kura Oncology comprises approximately 0.7% of Armistice Capital LLC's portfolio, making the stock its 29th largest holding. Armistice Capital LLC owned about 7.59% of Kura Oncology worth $43,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in Kura Oncology by 48.5% in the fourth quarter. Wells Fargo & Company MN now owns 34,989 shares of the company's stock valued at $305,000 after purchasing an additional 11,427 shares during the period. Barclays PLC boosted its holdings in Kura Oncology by 22.0% during the fourth quarter. Barclays PLC now owns 201,864 shares of the company's stock worth $1,757,000 after buying an additional 36,380 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Kura Oncology by 35.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,425,960 shares of the company's stock valued at $12,419,000 after purchasing an additional 372,196 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Kura Oncology by 6.6% in the fourth quarter. MetLife Investment Management LLC now owns 44,828 shares of the company's stock valued at $390,000 after purchasing an additional 2,776 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Kura Oncology by 166.6% during the fourth quarter. Hsbc Holdings PLC now owns 43,085 shares of the company's stock valued at $370,000 after buying an additional 26,922 shares during the period.

Wall Street Analyst Weigh In

KURA has been the subject of several research reports. Mizuho lowered their price objective on shares of Kura Oncology from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Wedbush restated an "outperform" rating and issued a $36.00 target price on shares of Kura Oncology in a research note on Friday, June 20th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Kura Oncology in a research note on Thursday, June 26th. JMP Securities dropped their target price on shares of Kura Oncology from $28.00 to $24.00 and set a "market outperform" rating on the stock in a report on Monday, August 11th. Finally, Wall Street Zen raised shares of Kura Oncology from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.10.

Kura Oncology Price Performance

Shares of Kura Oncology stock traded up $0.48 on Wednesday, reaching $8.43. The stock had a trading volume of 1,465,518 shares, compared to its average volume of 1,898,629. Kura Oncology, Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $21.40. The business's 50-day moving average price is $6.57 and its two-hundred day moving average price is $6.58. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.16 and a quick ratio of 6.16.

Kura Oncology (NASDAQ:KURA - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.90). The company had revenue of $15.29 million for the quarter, compared to analyst estimates of $64.95 million. Sell-side analysts forecast that Kura Oncology, Inc. will post -2.44 earnings per share for the current year.

About Kura Oncology

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.