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

Kura Oncology, Inc. (NASDAQ:KURA)’s stock price hit a new 52-week low 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 Ratings Changes

Several analysts have recently issued reports on KURA shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Kura Oncology in a research note on Wednesday, October 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kura Oncology in a research note on Thursday, October 15th. Barclays set a $24.00 target price on Kura Oncology in a report on Wednesday, October 14th. Raymond James Financial set a $24.00 target price on Kura Oncology in a research report on Monday, August 24th. Finally, Morgan Stanley set a $24.00 price target on Kura Oncology in a report on Monday, August 24th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Kura Oncology currently has a consensus rating of “Moderate Buy” and an average price target of $25.35.

Kura Oncology Price Performance

The company has a market capitalization of $626.73 million, a P/E ratio of -2.09 and a beta of 0.56. The stock’s fifty day simple moving average is $10.94 and its 200-day simple moving average is $9.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.73 and a quick ratio of 4.71.

Kura Oncology (NASDAQ:KURA) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.11. Kura Oncology had a negative return on equity of 207.18% and a negative net margin of 384.30%. The business had revenue of $20.87 million during the quarter, compared to analysts’ expectations of $20.16 million. On average, equities analysts forecast that Kura Oncology, Inc. will post -3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Brian T. Powl sold 17,020 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $10.53, for a total transaction of $179,220.60. Following the transaction, the insider owned 152,249 shares of the company’s stock, valued at approximately $1,603,181.97. The trade was a 10.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Teresa Bair sold 31,487 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $12.63, for a total transaction of $397,680.81. Following the transaction, the insider directly owned 195,444 shares in the company, valued at $2,468,457.72. This trade represents a 13.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 153,881 shares of company stock worth $1,708,183. 7.60% of the stock is currently owned by company insiders.

Institutional Trading of Kura Oncology

A number of hedge funds have recently bought and sold shares of KURA. IFP Advisors Inc grew its position in Kura Oncology by 136.5% in the 2nd quarter. IFP Advisors Inc now owns 2,542 shares of the company’s stock worth $28,000 after purchasing an additional 1,467 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Kura Oncology by 14.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,232 shares of the company’s stock valued at $175,000 after buying an additional 2,104 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Kura Oncology by 11.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 23,297 shares of the company’s stock valued at $194,000 after buying an additional 2,304 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Kura Oncology by 842.5% in the third quarter. Sterling Capital Management LLC now owns 2,818 shares of the company’s stock valued at $30,000 after buying an additional 2,519 shares during the period. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Kura Oncology by 22.6% in the third quarter. Pictet Asset Management Holding SA now owns 14,412 shares of the company’s stock valued at $154,000 after buying an additional 2,656 shares during the period.

Kura Oncology Company Profile

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.