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

Kura Oncology, Inc. (NASDAQ:KURA)’s share price gapped down before the market opened on Friday . The stock had previously closed at $17.77, but opened at $16.77. Kura Oncology shares last traded at $17.24, with a volume of 58,885 shares trading hands.

Analysts Set New Price Targets

KURA has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Kura Oncology in a report on Wednesday. Stifel Nicolaus downgraded shares of Kura Oncology from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $26.00 to $19.00 in a research note on Monday, October 14th. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Kura Oncology in a research report on Wednesday. Lifesci Capital upgraded shares of Kura Oncology to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Kura Oncology in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Kura Oncology currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.83.

Kura Oncology Stock Performance

The company has a quick ratio of 14.94, a current ratio of 14.94 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.37 billion, a PE ratio of -7.97 and a beta of 0.86. The stock’s fifty day simple moving average is $18.85 and its 200-day simple moving average is $19.99.

Kura Oncology (NASDAQ:KURA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.04. During the same period last year, the business earned ($0.53) earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts predict that Kura Oncology, Inc. will post -2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kura Oncology

A number of institutional investors have recently added to or reduced their stakes in KURA. Harbor Capital Advisors Inc. boosted its holdings in Kura Oncology by 21.9% in the third quarter. Harbor Capital Advisors Inc. now owns 47,295 shares of the company’s stock worth $924,000 after purchasing an additional 8,505 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Kura Oncology by 64.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,739 shares of the company’s stock valued at $288,000 after acquiring an additional 5,788 shares during the period. nVerses Capital LLC acquired a new position in shares of Kura Oncology during the 3rd quarter valued at $25,000. Quarry LP purchased a new position in Kura Oncology in the 2nd quarter worth about $196,000. Finally, Alethea Capital Management LLC raised its stake in Kura Oncology by 2.4% during the 2nd quarter. Alethea Capital Management LLC now owns 265,906 shares of the company’s stock valued at $5,475,000 after purchasing an additional 6,300 shares during the period.

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.