OnKure Therapeutics (NASDAQ:OKUR) Trading 0.6% Higher - Here's Why

Key Points

• OnKure Therapeutics shares rose 0.6% to $3.56 in mid-day trading, while trading volume fell 12% below its average. The company has a market capitalization of approximately $143.8 million.
• Analyst sentiment is mixed but averages a “Hold” rating, with a consensus price target of $17.50. Recent targets range from $14 to $21, while several firms downgraded or lowered their ratings.
• OnKure reported a quarterly loss of $0.31 per share, beating the $0.54 loss analysts expected. Institutional investors own nearly 91% of the stock, and the company continues developing oncology and autoimmune therapies, including its lead asset OKI-179.

OnKure Therapeutics, Inc. (NASDAQ:OKUR - Get Free Report)'s share price traded up 0.6% during mid-day trading on Thursday . The company traded as high as $3.62 and last traded at $3.56. 132,190 shares were traded during trading, a decline of 12% from the average daily volume of 149,968 shares. The stock had previously closed at $3.54.

Wall Street Analyst Weigh In

Several analysts recently weighed in on OKUR shares. Weiss Ratings lowered OnKure Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, July 28th. JonesTrading downgraded OnKure Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 7th. Oppenheimer reissued an "outperform" rating and issued a $14.00 target price on shares of OnKure Therapeutics in a report on Friday, August 14th. Wall Street Zen upgraded shares of OnKure Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, HC Wainwright decreased their price target on shares of OnKure Therapeutics to $21.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, OnKure Therapeutics has an average rating of "Hold" and an average target price of $17.50.

OnKure Therapeutics Stock Performance

The company has a market cap of $143.82 million, a price-to-earnings ratio of -1.02 and a beta of 0.23. The company has a fifty day moving average of $4.10 and a two-hundred day moving average of $4.01.

OnKure Therapeutics (NASDAQ:OKUR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.54) by $0.23. Equities analysts expect that OnKure Therapeutics, Inc. will post -1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd bought a new position in OnKure Therapeutics in the 2nd quarter valued at approximately $25,000. Rangeley Capital LLC bought a new stake in OnKure Therapeutics during the 2nd quarter worth approximately $71,000. Shay Capital LLC increased its position in OnKure Therapeutics by 417.8% in the 2nd quarter. Shay Capital LLC now owns 782,046 shares of the company's stock valued at $1,869,000 after acquiring an additional 631,008 shares during the period. Rosalind Advisors Inc. acquired a new position in OnKure Therapeutics in the 4th quarter valued at approximately $2,118,000. Finally, Renaissance Technologies LLC raised its stake in shares of OnKure Therapeutics by 40.7% during the fourth quarter. Renaissance Technologies LLC now owns 247,350 shares of the company's stock valued at $717,000 after acquiring an additional 71,600 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

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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