Prosight Management LP Makes New Investment in OnKure Therapeutics (NASDAQ:OKUR)

Prosight Management LP bought a new position in OnKure Therapeutics (NASDAQ:OKUR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 63,754 shares of the company’s stock, valued at approximately $548,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OKUR. Aisling Capital Management LP acquired a new stake in shares of OnKure Therapeutics in the 4th quarter worth approximately $762,000. Renaissance Technologies LLC acquired a new stake in shares of OnKure Therapeutics in the 4th quarter worth approximately $408,000. Geode Capital Management LLC acquired a new stake in shares of OnKure Therapeutics in the 4th quarter worth approximately $659,000. Highbridge Capital Management LLC acquired a new stake in shares of OnKure Therapeutics in the 4th quarter worth approximately $3,438,000. Finally, XTX Topco Ltd acquired a new stake in shares of OnKure Therapeutics in the 4th quarter worth approximately $160,000. Institutional investors own 90.98% of the company’s stock.

Insider Activity

In other news, major shareholder Cormorant Asset Management, Lp sold 24,300 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1.99, for a total transaction of $48,357.00. Following the sale, the insider now owns 1,813,439 shares in the company, valued at $3,608,743.61. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 28,296 shares of company stock worth $60,106 over the last 90 days. 2.30% of the stock is owned by company insiders.

OnKure Therapeutics Price Performance

OKUR stock opened at $1.83 on Thursday. OnKure Therapeutics has a 12 month low of $1.70 and a 12 month high of $20.00. The firm has a market cap of $24.59 million, a PE ratio of -0.15 and a beta of 0.40. The firm has a 50 day simple moving average of $3.41 and a 200 day simple moving average of $7.62.

OnKure Therapeutics (NASDAQ:OKUR) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.41) by $0.22. As a group, sell-side analysts expect that OnKure Therapeutics will post -4.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OKUR shares. Evercore ISI started coverage on shares of OnKure Therapeutics in a research note on Wednesday, April 30th. They issued an “outperform” rating for the company. HC Wainwright reduced their price target on shares of OnKure Therapeutics from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, Oppenheimer reduced their price target on shares of OnKure Therapeutics from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, OnKure Therapeutics currently has a consensus rating of “Buy” and an average price target of $32.33.

About OnKure Therapeutics

OnKure Therapeutics, Inc engages in discovering and developing precision medicines that target biologically validated drivers of cancers underserved by available therapies. The company uses a structure and computational chemistry driven drug design platform, committed to improving clinical outcomes for patients by building a robust pipeline of small molecule drugs designed to selectively target specific mutations thought to be key drivers of cancer.