Kura Oncology (NASDAQ:KURA) Shares Pass Below 200 Day Moving Average - Here's What Happened

Shares of Kura Oncology, Inc. (NASDAQ:KURA - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.97 and traded as low as $5.85. Kura Oncology shares last traded at $6.16, with a volume of 1,985,284 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays reduced their target price on Kura Oncology from $32.00 to $11.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Mizuho cut their price objective on Kura Oncology from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Monday, May 19th. JMP Securities restated a "market outperform" rating and issued a $28.00 price objective on shares of Kura Oncology in a research report on Wednesday, June 4th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Kura Oncology in a research report on Thursday, June 26th. Finally, Wedbush reissued an "outperform" rating and issued a $36.00 price target on shares of Kura Oncology in a research note on Friday, June 20th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.50.

Kura Oncology Stock Performance

The company has a current ratio of 8.07, a quick ratio of 8.07 and a debt-to-equity ratio of 0.02. The company's fifty day moving average is $6.07 and its 200 day moving average is $6.91. The company has a market cap of $543.66 million, a P/E ratio of -2.99 and a beta of 0.40.

Kura Oncology (NASDAQ:KURA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.15). The company had revenue of $14.11 million during the quarter, compared to analyst estimates of $39.08 million. As a group, equities analysts predict that Kura Oncology, Inc. will post -2.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in Kura Oncology during the 1st quarter valued at approximately $139,000. Rhumbline Advisers increased its stake in shares of Kura Oncology by 5.2% during the first quarter. Rhumbline Advisers now owns 105,206 shares of the company's stock valued at $694,000 after buying an additional 5,215 shares during the period. Virtu Financial LLC bought a new position in shares of Kura Oncology during the fourth quarter valued at approximately $139,000. BNP Paribas Financial Markets lifted its stake in Kura Oncology by 969.9% in the fourth quarter. BNP Paribas Financial Markets now owns 163,559 shares of the company's stock worth $1,425,000 after acquiring an additional 148,272 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Kura Oncology by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 635,494 shares of the company's stock valued at $5,535,000 after acquiring an additional 10,542 shares in the last quarter.

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.