OnKure Therapeutics, Inc. (NASDAQ:OKUR) Short Interest Down 85.2% in March

Key Points

• Short interest in OnKure plunged by 85.2% in March to 7,962 shares (about 0.1% of shares), leaving a short-interest ratio of effectively 0.0 days based on average volume.
• Institutional ownership is very high (~90.98%), with recent activity including Barclays boosting its stake dramatically (+4,286.8% to 27,242 shares) and several hedge funds taking new small positions.
• Analysts hold an average rating of Hold with a consensus target of $27; the stock traded at $3.98 and the company reported a surprise beat last quarter (EPS -$0.99 vs. -$1.15 estimate).

OnKure Therapeutics, Inc. (NASDAQ:OKUR - Get Free Report) saw a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 7,962 shares, a decline of 85.2% from the February 26th total of 53,751 shares. Based on an average trading volume of 214,174 shares, the short-interest ratio is currently 0.0 days. Approximately 0.1% of the company's shares are short sold. Approximately 0.1% of the company's shares are short sold. Based on an average trading volume of 214,174 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On OnKure Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in shares of OnKure Therapeutics in the second quarter valued at approximately $25,000. Jane Street Group LLC acquired a new position in shares of OnKure Therapeutics in the fourth quarter valued at approximately $56,000. Hsbc Holdings PLC acquired a new stake in shares of OnKure Therapeutics in the fourth quarter valued at $58,000. Barclays PLC boosted its stake in shares of OnKure Therapeutics by 4,286.8% in the 4th quarter. Barclays PLC now owns 27,242 shares of the company's stock valued at $79,000 after buying an additional 26,621 shares during the period. Finally, Rangeley Capital LLC purchased a new position in OnKure Therapeutics in the second quarter worth approximately $71,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OKUR shares. HC Wainwright decreased their price objective on shares of OnKure Therapeutics from $34.00 to $27.00 and set a "buy" rating for the company in a report on Monday, March 16th. Wall Street Zen upgraded OnKure Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of OnKure Therapeutics in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $27.00.

OnKure Therapeutics Price Performance

Shares of NASDAQ:OKUR remained flat at $3.98 on Tuesday. 156,778 shares of the company's stock were exchanged, compared to its average volume of 212,876. OnKure Therapeutics has a 1-year low of $1.70 and a 1-year high of $5.00. The business has a 50-day moving average price of $2.99 and a 200-day moving average price of $2.93.

OnKure Therapeutics (NASDAQ:OKUR - Get Free Report) last posted its quarterly earnings data on Monday, March 9th. The company reported ($0.99) earnings per share for the quarter, topping analysts' consensus estimates of ($1.15) by $0.16. On average, analysts expect that OnKure Therapeutics will post -4.05 earnings per share for the current year.

OnKure Therapeutics Company Profile

OnKure Therapeutics, Inc NASDAQ: OKUR is a clinical-stage biopharmaceutical company focused on the development of novel therapies for oncology and autoimmune diseases. Headquartered in Westlake Village, California, OnKure is advancing small molecule drug candidates designed to modulate key signaling pathways implicated in cancer cell growth and immune system function.

The company's lead oncology asset, OKI-179, is an orally available histone deacetylase (HDAC) inhibitor being evaluated in Phase I and Phase II clinical studies for a range of solid tumors.

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