Kura Oncology (NASDAQ:KURA) Shares Up 6.4% - Here's Why

Key Points

• Kura Oncology's shares increased by 6.4% to close at $8.89 after trading as high as $8.92 during the day.
• Analysts have set a consensus price target of $24.10, with ratings ranging from "Strong Buy" to "Hold."
• CEO Troy Edward Wilson significantly increased his stake by buying 50,000 shares at an average price of $8.20, raising his ownership by 98.10%.

Kura Oncology, Inc. (NASDAQ:KURA - Get Free Report) shares were up 6.4% during mid-day trading on Friday . The company traded as high as $8.92 and last traded at $8.89. Approximately 882,670 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 1,474,411 shares. The stock had previously closed at $8.36.

Analysts Set New Price Targets

A number of research analysts have recently commented on KURA shares. JMP Securities cut their price target on Kura Oncology from $28.00 to $24.00 and set a "market outperform" rating for the company in a report on Monday, August 11th. Wedbush reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Kura Oncology in a report on Friday, June 20th. Wall Street Zen raised Kura Oncology from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Cantor Fitzgerald restated an "overweight" rating on shares of Kura Oncology in a research note on Thursday, June 26th. Finally, Guggenheim initiated coverage on shares of Kura Oncology in a research note on Thursday, September 4th. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.10.

Kura Oncology Stock Up 7.6%

The stock has a market capitalization of $780.77 million, a P/E ratio of -3.98 and a beta of 0.19. The company has a current ratio of 6.16, a quick ratio of 6.16 and a debt-to-equity ratio of 0.02. The firm's fifty day moving average is $7.28 and its 200-day moving average is $6.63.

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 the consensus estimate of $64.95 million. As a group, equities research analysts predict that Kura Oncology, Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling

In other Kura Oncology news, CEO Troy Edward Wilson bought 50,000 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were bought at an average price of $8.20 per share, for a total transaction of $410,000.00. Following the completion of the acquisition, the chief executive officer owned 100,968 shares of the company's stock, valued at approximately $827,937.60. This trade represents a 98.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Kura Oncology

Institutional investors have recently modified their holdings of the stock. BVF Inc. IL grew its stake in shares of Kura Oncology by 202.0% during the first quarter. BVF Inc. IL now owns 7,754,129 shares of the company's stock valued at $51,177,000 after purchasing an additional 5,186,660 shares during the last quarter. Armistice Capital LLC lifted its holdings in 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 in the last quarter. Vanguard Group Inc. boosted its position in Kura Oncology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 4,948,235 shares of the company's stock valued at $32,658,000 after buying an additional 129,337 shares during the last quarter. EcoR1 Capital LLC increased its stake in shares of Kura Oncology by 59.1% in the 2nd quarter. EcoR1 Capital LLC now owns 4,200,000 shares of the company's stock valued at $24,234,000 after buying an additional 1,559,702 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Kura Oncology by 11.7% during the second quarter. Geode Capital Management LLC now owns 2,014,029 shares of the company's stock worth $11,623,000 after acquiring an additional 211,470 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.