Kura Oncology (NASDAQ:KURA) Shares Gap Down – Here’s What Happened

Kura Oncology, Inc. (NASDAQ:KURA) shares gapped down prior to trading on Wednesday . The stock had previously closed at $9.68, but opened at $8.97. Kura Oncology shares last traded at $8.8550, with a volume of 238,894 shares trading hands.

Wall Street Analyst Weigh In

KURA has been the topic of several research reports. Mizuho cut their price objective on shares of Kura Oncology from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Wall Street Zen cut shares of Kura Oncology from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Zacks Research raised shares of Kura Oncology from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kura Oncology in a research report on Tuesday, April 21st. Finally, Lake Street Capital initiated coverage on shares of Kura Oncology in a research report on Tuesday, April 14th. They issued a “buy” rating and a $23.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.38.

Kura Oncology Stock Performance

The firm has a market cap of $864.62 million, a price-to-earnings ratio of -2.91 and a beta of 0.32. The stock’s 50 day moving average is $8.88 and its 200 day moving average is $9.47. The company has a current ratio of 6.15, a quick ratio of 6.05 and a debt-to-equity ratio of 0.09.

Kura Oncology (NASDAQ:KURA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.05. Kura Oncology had a negative net margin of 411.19% and a negative return on equity of 141.95%. The business had revenue of $18.27 million for the quarter, compared to analyst estimates of $25.97 million. Analysts anticipate that Kura Oncology, Inc. will post -3.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KURA. Sector Gamma AS bought a new stake in shares of Kura Oncology during the 3rd quarter worth approximately $3,880,000. Nan Fung Trinity HK Ltd. bought a new position in Kura Oncology in the 3rd quarter valued at approximately $2,043,000. SG Americas Securities LLC lifted its stake in Kura Oncology by 214.1% in the 4th quarter. SG Americas Securities LLC now owns 151,715 shares of the company’s stock valued at $1,576,000 after purchasing an additional 103,411 shares during the last quarter. Rhenman & Partners Asset Management AB lifted its stake in Kura Oncology by 96.0% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 490,000 shares of the company’s stock valued at $4,336,000 after purchasing an additional 240,000 shares during the last quarter. Finally, Moody Aldrich Partners LLC bought a new position in Kura Oncology in the 4th quarter valued at approximately $1,867,000.

Kura Oncology Company Profile

Kura Oncology, Inc (NASDAQ: KURA) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted oncology therapies. Headquartered in La Jolla, California, the company leverages expertise in molecular biology and precision medicine to identify key drivers of cancer growth and design small-molecule inhibitors that block those pathways. Kura’s research platform integrates genomic insights with medicinal chemistry to advance candidates against well-validated targets in solid tumors and hematologic malignancies.

The company’s lead clinical candidate, tipifarnib, is a farnesyltransferase inhibitor being evaluated for the treatment of HRAS-mutant head and neck squamous cell carcinoma and various non-small cell lung cancers.