Wealth Enhancement Advisory Services LLC Buys 35,779 Shares of Kura Oncology, Inc. $KURA

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Kura Oncology by 169.3%, acquiring an additional 35,779 shares for a total of 56,912 shares worth approximately $334,000.
• Multiple large investors, including State of Wyoming and Pallas Capital Advisors, have recently taken new positions in Kura Oncology, indicating growing interest in the company.
• Kura Oncology's stock currently has an average rating of "Moderate Buy" among analysts, with a projected average target price of $24.10, despite facing a significant miss in earnings in its latest quarterly report.

Wealth Enhancement Advisory Services LLC increased its position in shares of Kura Oncology, Inc. (NASDAQ:KURA - Free Report) by 169.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,912 shares of the company's stock after purchasing an additional 35,779 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of Kura Oncology worth $334,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KURA. State of Wyoming purchased a new position in shares of Kura Oncology during the 1st quarter worth about $48,000. Pallas Capital Advisors LLC bought a new stake in Kura Oncology during the 1st quarter valued at about $66,000. Flower City Capital bought a new stake in Kura Oncology during the 1st quarter valued at about $79,000. Magnetar Financial LLC bought a new stake in Kura Oncology during the 1st quarter valued at about $79,000. Finally, E Fund Management Co. Ltd. lifted its holdings in Kura Oncology by 18.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 12,252 shares of the company's stock valued at $81,000 after buying an additional 1,951 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Mollie Leoni sold 12,314 shares of the company's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $8.94, for a total value of $110,087.16. Following the sale, the insider directly owned 158,439 shares of the company's stock, valued at $1,416,444.66. This represents a 7.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kathleen Ford sold 6,892 shares of the company's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $8.94, for a total transaction of $61,614.48. Following the completion of the sale, the chief operating officer directly owned 63,375 shares in the company, valued at $566,572.50. This trade represents a 9.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,058 shares of company stock worth $697,839. Company insiders own 6.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Kura Oncology in a report on Thursday, June 26th. HC Wainwright reiterated a "buy" rating and set a $40.00 price objective on shares of Kura Oncology in a report on Tuesday, September 30th. Wall Street Zen upgraded shares of Kura Oncology from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kura Oncology in a report on Saturday, September 27th. Finally, JMP Securities decreased 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 report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has assigned 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 $24.10.

Kura Oncology Trading Down 3.8%

Shares of Kura Oncology stock opened at $9.43 on Wednesday. The company has a current ratio of 6.16, a quick ratio of 6.16 and a debt-to-equity ratio of 0.02. Kura Oncology, Inc. has a 12-month low of $5.41 and a 12-month high of $19.73. The firm has a market capitalization of $818.52 million, a price-to-earnings ratio of -4.17 and a beta of 0.32. The firm's 50 day simple moving average is $7.74 and its two-hundred day simple moving average is $6.73.

Kura Oncology (NASDAQ:KURA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) EPS 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 analyst estimates of $64.95 million. Analysts predict that Kura Oncology, Inc. will post -2.44 EPS for the current year.

Kura Oncology 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.

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