Pale Fire Capital SE Sells 800,874 Shares of Kura Oncology, Inc. $KURA

Key Points

• Pale Fire Capital SE cut its Kura Oncology stake by 93.4% in the second quarter, selling 800,874 shares and retaining 56,600 shares worth approximately $621,000.
• Institutional ownership was mixed, with several firms—including American Century Companies, Legal & General, and Rhumbline Advisers—adding to their positions. Kura’s CEO also purchased 100,000 shares, while another insider sold 31,487 shares.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $25.40 versus a recent share price of $13.11. The company’s latest quarterly results beat expectations, reporting a $0.77 loss per share and $20.87 million in revenue.

Pale Fire Capital SE lessened its position in Kura Oncology, Inc. (NASDAQ:KURA - Free Report) by 93.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,600 shares of the company's stock after selling 800,874 shares during the quarter. Pale Fire Capital SE owned approximately 0.06% of Kura Oncology worth $621,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Kura Oncology by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,008 shares of the company's stock worth $333,000 after acquiring an additional 2,977 shares during the last quarter. Strs Ohio acquired a new stake in shares of Kura Oncology in the first quarter valued at approximately $143,000. Legal & General Group Plc lifted its position in shares of Kura Oncology by 35.1% in the second quarter. Legal & General Group Plc now owns 72,910 shares of the company's stock worth $421,000 after purchasing an additional 18,930 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Kura Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 118,896 shares of the company's stock worth $686,000 after purchasing an additional 13,690 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Kura Oncology by 244.5% during the second quarter. American Century Companies Inc. now owns 232,752 shares of the company's stock worth $1,343,000 after purchasing an additional 165,189 shares during the last quarter.

Insider Activity

In other news, CEO Troy Edward Wilson bought 100,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average cost of $12.39 per share, for a total transaction of $1,239,000.00. Following the purchase, the chief executive officer 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Teresa Brophy Bair sold 31,487 shares of Kura Oncology stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $12.63, for a total value of $397,680.81. Following the transaction, the insider owned 195,444 shares of the company's stock, valued at $2,468,457.72. The trade was a 13.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 120,761 shares of company stock valued at $1,283,346 over the last quarter. 7.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on KURA shares. Citizens Jmp reaffirmed a "market outperform" rating and issued a $24.00 target price on shares of Kura Oncology in a research report on Monday, August 24th. CLSA set a $24.00 price target on shares of Kura Oncology in a research report on Thursday, June 4th. Wedbush increased their price objective on shares of Kura Oncology from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Citigroup restated a "market outperform" rating on shares of Kura Oncology in a report on Monday, August 24th. Finally, Wells Fargo & Company set a $24.00 target price on Kura Oncology in a research report on Thursday, June 4th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $25.40.

Kura Oncology Price Performance

NASDAQ:KURA opened at $13.11 on Thursday. Kura Oncology, Inc. has a 1-year low of $7.36 and a 1-year high of $13.90. The company has a current ratio of 4.73, a quick ratio of 4.71 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $11.01 and a 200 day simple moving average of $9.75. The stock has a market capitalization of $1.17 billion, a PE ratio of -3.89 and a beta of 0.44.

Kura Oncology (NASDAQ:KURA - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.77) earnings per share for the quarter, topping 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, research analysts expect that Kura Oncology, Inc. will post -3.23 EPS for the current fiscal year.

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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