Kura Oncology (NASDAQ:KURA) Shares Cross Below 200 Day Moving Average – Time to Sell?

Kura Oncology, Inc. (NASDAQ:KURA)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $9.81 and traded as low as $7.47. Kura Oncology shares last traded at $7.61, with a volume of 8,211,639 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KURA shares. Deutsche Bank Aktiengesellschaft set a $24.00 price target on shares of Kura Oncology in a research report on Wednesday, October 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Kura Oncology in a research report on Wednesday, October 14th. Wedbush upped their price objective on Kura Oncology from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Barclays set a $24.00 target price on Kura Oncology in a report on Wednesday, October 14th. Finally, Morgan Stanley set a $24.00 target price on Kura Oncology in a research report on Monday, August 24th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Kura Oncology has a consensus rating of “Moderate Buy” and a consensus target price of $25.35.

Kura Oncology Stock Performance

The company has a current ratio of 4.73, a quick ratio of 4.71 and a debt-to-equity ratio of 0.12. The company has a market cap of $676.99 million, a P/E ratio of -2.26 and a beta of 0.56. The business’s 50 day simple moving average is $10.94 and its 200 day simple moving average is $9.81.

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

Insider Buying and Selling

In other Kura Oncology news, insider Teresa Bair sold 31,487 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $12.63, for a total transaction of $397,680.81. Following the sale, the insider directly owned 195,444 shares of the company’s stock, valued at $2,468,457.72. This trade represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian T. Powl sold 17,020 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $10.53, for a total value of $179,220.60. Following the completion of the transaction, the insider owned 152,249 shares in the company, valued at $1,603,181.97. The trade was a 10.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 153,881 shares of company stock worth $1,708,183 in the last three months. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Kura Oncology

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Kura Oncology during the second quarter worth $115,286,000. Bank of America Corp DE bought a new position in shares of Kura Oncology during the 2nd quarter valued at about $12,735,000. Dimensional Fund Advisors LP boosted its holdings in shares of Kura Oncology by 32.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,425,945 shares of the company’s stock valued at $11,591,000 after purchasing an additional 348,127 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kura Oncology during the 2nd quarter valued at about $10,927,000. Finally, Pale Fire Capital SE grew its position in shares of Kura Oncology by 89.6% during the first quarter. Pale Fire Capital SE now owns 857,474 shares of the company’s stock valued at $6,971,000 after purchasing an additional 405,229 shares in the last quarter.

About Kura Oncology

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.