OnKure Therapeutics (NASDAQ:OKUR) Issues Earnings Results, Beats Estimates By $0.27 EPS

Key Points

• OnKure Therapeutics reported quarterly EPS of ($0.31), beating the consensus estimate of ($0.58) by $0.27.
• Shares traded around $4.10, with a market capitalization of approximately $165.6 million and a 12-month range of $1.91 to $5.38.
• Analysts have a consensus “Hold” rating and an average price target of $21.00, while institutional investors own 90.98% of the company’s stock.

OnKure Therapeutics (NASDAQ:OKUR - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.27, Zacks reports.

OnKure Therapeutics Price Performance

OKUR traded up $0.08 during trading hours on Tuesday, hitting $4.10. 201,955 shares of the stock were exchanged, compared to its average volume of 263,641. The stock has a market cap of $165.64 million, a price-to-earnings ratio of -0.95 and a beta of 0.30. OnKure Therapeutics has a 12 month low of $1.91 and a 12 month high of $5.38. The stock has a 50-day simple moving average of $4.26 and a 200-day simple moving average of $3.82.

Analyst Upgrades and Downgrades

OKUR has been the topic of a number of recent analyst reports. HC Wainwright lowered their price target on shares of OnKure Therapeutics to $21.00 and set a "buy" rating on the stock in a research note on Monday, July 20th. Wall Street Zen upgraded shares of OnKure Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Weiss Ratings cut OnKure Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 28th. Finally, JonesTrading cut OnKure Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $21.00.

Hedge Funds Weigh In On OnKure Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of OKUR. ADAR1 Capital Management LLC acquired a new position in shares of OnKure Therapeutics in the fourth quarter worth about $2,941,000. Shay Capital LLC lifted its position in shares of OnKure Therapeutics by 17.4% in the 3rd quarter. Shay Capital LLC now owns 917,934 shares of the company's stock valued at $2,524,000 after acquiring an additional 135,888 shares in the last quarter. Prosight Management LP lifted its position in shares of OnKure Therapeutics by 204.9% in the 4th quarter. Prosight Management LP now owns 816,909 shares of the company's stock valued at $2,369,000 after acquiring an additional 548,950 shares in the last quarter. Rosalind Advisors Inc. purchased a new position in OnKure Therapeutics during the 4th quarter worth approximately $2,118,000. Finally, Renaissance Technologies LLC raised its stake in OnKure Therapeutics by 40.7% during the 4th quarter. Renaissance Technologies LLC now owns 247,350 shares of the company's stock valued at $717,000 after purchasing an additional 71,600 shares during the period. Institutional investors own 90.98% of the company's stock.

About OnKure Therapeutics

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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