Kura Oncology (NASDAQ:KURA) Shares Down 12.1% – Here’s Why

Kura Oncology, Inc. (NASDAQ:KURA)’s share price was down 12.1% during mid-day trading on Monday . The company traded as low as $9.38 and last traded at $9.0280. Approximately 1,004,948 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 1,532,753 shares. The stock had previously closed at $10.27.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KURA shares. Wall Street Zen upgraded shares of Kura Oncology from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Wedbush restated an “outperform” rating and issued a $36.00 price target on shares of Kura Oncology in a research note on Monday, October 20th. Guggenheim started coverage on shares of Kura Oncology in a research note on Thursday, September 4th. They issued a “neutral” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Kura Oncology in a research note on Wednesday, October 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $24.00 price target on shares of Kura Oncology in a research note on Monday, October 20th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Kura Oncology presently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

Kura Oncology Trading Down 6.5%

The business’s 50 day moving average price is $8.99 and its two-hundred day moving average price is $7.21. The company has a current ratio of 6.16, a quick ratio of 6.16 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $833.77 million, a price-to-earnings ratio of -4.24 and a beta of 0.32.

Kura Oncology (NASDAQ:KURA) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.90). The firm had revenue of $15.29 million for the quarter, compared to the consensus estimate of $64.95 million. On average, equities analysts predict that Kura Oncology, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Kathleen Ford sold 6,892 shares of Kura Oncology stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $8.94, for a total transaction of $61,614.48. Following the sale, the chief operating officer directly owned 63,375 shares in the company, valued at $566,572.50. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Teresa Brophy Bair sold 8,805 shares of Kura Oncology stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $8.94, for a total transaction of $78,716.70. Following the sale, the insider owned 148,043 shares in the company, valued at approximately $1,323,504.42. This represents a 5.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 78,058 shares of company stock valued at $697,839. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Kura Oncology in the 1st quarter valued at $139,000. Cerity Partners LLC bought a new stake in shares of Kura Oncology in the 1st quarter valued at $210,000. CWM LLC increased its stake in shares of Kura Oncology by 892.8% in the 1st quarter. CWM LLC now owns 28,353 shares of the company’s stock valued at $187,000 after acquiring an additional 25,497 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Kura Oncology by 93.8% in the 1st quarter. Jennison Associates LLC now owns 138,532 shares of the company’s stock valued at $914,000 after acquiring an additional 67,035 shares in the last quarter. Finally, 1492 Capital Management LLC increased its stake in shares of Kura Oncology by 25.4% in the 1st quarter. 1492 Capital Management LLC now owns 429,746 shares of the company’s stock valued at $2,836,000 after acquiring an additional 87,148 shares in the last quarter.

Kura Oncology Company Profile

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.