Kura Oncology (NASDAQ:KURA) Shares Gap Down on Disappointing Earnings

Kura Oncology, Inc. (NASDAQ:KURA - Get Free Report)'s share price gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $6.49, but opened at $6.23. Kura Oncology shares last traded at $6.37, with a volume of 186,697 shares changing hands.

The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.15). The business had revenue of $14.11 million during the quarter, compared to analysts' expectations of $39.08 million.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KURA. HC Wainwright reissued a "buy" rating and set a $40.00 price target on shares of Kura Oncology in a research report on Monday, April 28th. BTIG Research downgraded Kura Oncology from a "buy" rating to a "neutral" rating in a research note on Thursday, February 6th. Cantor Fitzgerald upgraded Kura Oncology to a "strong-buy" rating in a research note on Tuesday, March 4th. Scotiabank cut their target price on Kura Oncology from $18.00 to $10.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Kura Oncology in a research report on Tuesday, April 8th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.89.

Hedge Funds Weigh In On Kura Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its position in Kura Oncology by 11.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,489 shares of the company's stock valued at $144,000 after purchasing an additional 1,750 shares during the period. Rhumbline Advisers raised its stake in shares of Kura Oncology by 2.0% in the fourth quarter. Rhumbline Advisers now owns 99,991 shares of the company's stock worth $871,000 after buying an additional 1,923 shares during the period. Harbor Capital Advisors Inc. raised its stake in Kura Oncology by 4.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 49,371 shares of the company's stock worth $430,000 after acquiring an additional 2,076 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Kura Oncology by 19.9% in the fourth quarter. Teacher Retirement System of Texas now owns 13,749 shares of the company's stock worth $120,000 after purchasing an additional 2,285 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Kura Oncology by 6.6% in the 4th quarter. MetLife Investment Management LLC now owns 44,828 shares of the company's stock worth $390,000 after buying an additional 2,776 shares during the period.

Kura Oncology Price Performance

The firm has a 50-day moving average of $6.73 and a 200-day moving average of $9.52. The stock has a market cap of $522.63 million, a PE ratio of -2.74 and a beta of 0.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 11.47 and a quick ratio of 11.47.

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.