Kura Oncology (NASDAQ:KURA) Trading Down 4.1% - Here's Why

Key Points

• Kura Oncology's stock declined by 4.1%, trading between $8.52 and $8.47, with trading volume dropping by 86% compared to average levels.
• Wall Street analysts have rated the stock with one Strong Buy, ten Buy, and four Hold ratings, averaging a "Moderate Buy" with a target price of $24.10.
• The company's recent quarterly earnings showed a loss of ($0.75) EPS, significantly missing projections, with actual revenues at $15.29 million compared to expectations of $64.95 million.

Kura Oncology, Inc. (NASDAQ:KURA - Get Free Report)'s stock price traded down 4.1% during trading on Friday . The company traded as low as $8.52 and last traded at $8.47. 200,744 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,472,771 shares. The stock had previously closed at $8.83.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KURA. Wall Street Zen raised shares of Kura Oncology from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. JMP Securities decreased their price target on shares of Kura Oncology from $28.00 to $24.00 and set a "market outperform" rating for the company in a research note on Monday, August 11th. Wedbush reissued an "outperform" rating and set a $36.00 price objective on shares of Kura Oncology in a report on Friday, June 20th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Kura Oncology in a report on Thursday, June 26th. Finally, Mizuho cut their price target on shares of Kura Oncology from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.10.

Kura Oncology Stock Performance

The company has a market cap of $729.64 million, a PE ratio of -3.73 and a beta of 0.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.16 and a current ratio of 6.16. The firm's 50 day moving average is $6.87 and its 200-day moving average is $6.58.

Kura Oncology (NASDAQ:KURA - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.90). The company had revenue of $15.29 million for the quarter, compared to the consensus estimate of $64.95 million. On average, research analysts anticipate that Kura Oncology, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at Kura Oncology

In other Kura Oncology news, CEO Troy Edward Wilson acquired 50,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was bought at an average price of $8.20 per share, with a total value of $410,000.00. Following the purchase, the chief executive officer owned 100,968 shares in the company, valued at approximately $827,937.60. The trade was a 98.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.40% of the company's stock.

Institutional Trading of Kura Oncology

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in shares of Kura Oncology by 471.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,071 shares of the company's stock valued at $70,000 after buying an additional 9,958 shares during the period. Rangeley Capital LLC purchased a new stake in shares of Kura Oncology in the 2nd quarter valued at approximately $669,000. Man Group plc grew its stake in shares of Kura Oncology by 234.7% in the 2nd quarter. Man Group plc now owns 522,388 shares of the company's stock valued at $3,014,000 after buying an additional 366,324 shares during the period. EcoR1 Capital LLC grew 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, Engineers Gate Manager LP lifted its holdings in shares of Kura Oncology by 8.7% in the 2nd quarter. Engineers Gate Manager LP now owns 62,564 shares of the company's stock worth $361,000 after acquiring an additional 5,028 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.

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