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

OnKure Therapeutics (NASDAQ:OKUR) issued its quarterly earnings results on Tuesday. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.27, Zacks reports.

OnKure Therapeutics Stock Up 2.0%

NASDAQ:OKUR traded up $0.08 during mid-day trading on Tuesday, hitting $4.10. 201,955 shares of the stock traded hands, compared to its average volume of 263,641. OnKure Therapeutics has a 12-month low of $1.91 and a 12-month high of $5.38. The business’s 50-day moving average price is $4.26 and its 200 day moving average price is $3.82. The company has a market cap of $165.64 million, a PE ratio of -0.95 and a beta of 0.30.

Institutional Investors Weigh In On OnKure Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKUR. ADAR1 Capital Management LLC purchased a new stake in OnKure Therapeutics during the 4th quarter valued at $2,941,000. Rosalind Advisors Inc. purchased a new stake in shares of OnKure Therapeutics during the 4th quarter valued at about $2,118,000. Shay Capital LLC increased its position in shares of OnKure Therapeutics by 417.8% during the 2nd quarter. Shay Capital LLC now owns 782,046 shares of the company’s stock valued at $1,869,000 after purchasing an additional 631,008 shares during the last quarter. Prosight Management LP lifted its stake 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 worth $2,369,000 after purchasing an additional 548,950 shares during the period. Finally, Kotler Kevin purchased a new position in shares of OnKure Therapeutics in the fourth quarter worth approximately $573,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.