Kura Oncology (NASDAQ:KURA) Hits New 52-Week Low - Here's Why

Key Points

• Kura Oncology hit a 52-week low, trading as low as $7.17 and last quoted at $7.227, down from its prior close of $7.61.
• Analyst sentiment remains broadly positive despite the drop: MarketBeat reports a “Moderate Buy” consensus from 13 analysts and an average price target of $25.35.
• The company beat quarterly EPS and revenue estimates, but remains loss-making; insiders also sold 153,881 shares worth about $1.71 million over the past 90 days.

Kura Oncology, Inc. (NASDAQ:KURA - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $7.17 and last traded at $7.2270, with a volume of 609,922 shares. The stock had previously closed at $7.61.

Analyst Upgrades and Downgrades

KURA has been the topic of a number of research reports. Raymond James Financial set a $24.00 target price on shares of Kura Oncology in a report on Monday, August 24th. JPMorgan Chase & Co. initiated coverage on shares of Kura Oncology in a report on Thursday, October 1st. They set an "overweight" rating and a $30.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Kura Oncology in a research report on Thursday, October 15th. Barclays set a $24.00 price target on Kura Oncology in a report on Wednesday, October 14th. Finally, Citigroup reiterated a "market outperform" rating on shares of Kura Oncology in a research report on Wednesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.35.

Kura Oncology Price Performance

The stock has a 50 day moving average of $10.94 and a two-hundred day moving average of $9.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.71 and a current ratio of 4.73. The stock has a market cap of $626.73 million, a PE ratio of -2.09 and a beta of 0.56.

Kura Oncology (NASDAQ:KURA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.77) EPS for the quarter, beating analysts' consensus estimates of ($0.88) by $0.11. The company had revenue of $20.87 million during the quarter, compared to analyst estimates of $20.16 million. Kura Oncology had a negative net margin of 384.30% and a negative return on equity of 207.18%. Equities analysts anticipate that Kura Oncology, Inc. will post -3.25 EPS for the current year.

Insider Transactions at Kura Oncology

In other news, insider Mollie Leoni sold 28,802 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $10.75, for a total value of $309,621.50. Following the completion of the sale, the insider owned 141,095 shares in the company, valued at $1,516,771.25. This represents a 16.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian T. Powl sold 17,020 shares of the firm's stock in a transaction on Monday, September 28th. The stock was sold at an average price of $10.53, for a total value of $179,220.60. Following the completion of the sale, the insider directly owned 152,249 shares of the company's stock, valued at approximately $1,603,181.97. This trade represents a 10.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 153,881 shares of company stock worth $1,708,183. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA increased its stake in shares of Kura Oncology by 22.6% during the 3rd quarter. Pictet Asset Management Holding SA now owns 14,412 shares of the company's stock worth $154,000 after purchasing an additional 2,656 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Kura Oncology by 30.8% during the 3rd quarter. Alps Advisors Inc. now owns 117,876 shares of the company's stock valued at $1,262,000 after purchasing an additional 27,783 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Kura Oncology in the 3rd quarter valued at $49,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Kura Oncology in the 3rd quarter valued at $228,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Kura Oncology by 14.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,232 shares of the company's stock worth $175,000 after purchasing an additional 2,104 shares in the last quarter.

About Kura Oncology

Kura Oncology, Inc NASDAQ: KURA is a biopharmaceutical company focused on developing precision medicines for the treatment of cancer. The company's research programs target genetic and molecular drivers of malignancies, with the goal of developing therapies for patients with limited treatment options.

Kura's lead product candidate has been ziftomenib, an oral, selective menin inhibitor being developed for genetically defined forms of acute myeloid leukemia (AML), including AML associated with NPM1 mutations and KMT2A rearrangements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.