Kura Oncology (NASDAQ:KURA) Shares Down 8.1% – Here’s What Happened

Kura Oncology, Inc. (NASDAQ:KURA)’s share price fell 8.1% on Monday . The company traded as low as $9.52 and last traded at $9.3720. 305,897 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,525,224 shares. The stock had previously closed at $10.20.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KURA. Lake Street Capital began coverage on shares of Kura Oncology in a research report on Tuesday, April 14th. They issued a “buy” rating and a $23.00 target price on the stock. Jefferies Financial Group set a $24.00 price target on Kura Oncology in a research note on Thursday, May 28th. Wall Street Zen raised Kura Oncology from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. Wedbush cut their price target on Kura Oncology from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, Citigroup reiterated a “market outperform” rating on shares of Kura Oncology in a report on Thursday, May 28th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.90.

Kura Oncology Trading Down 0.7%

The company has a quick ratio of 6.14, a current ratio of 6.15 and a debt-to-equity ratio of 0.09. The company has a market cap of $796.27 million, a P/E ratio of -2.68 and a beta of 0.36. The firm’s 50 day moving average is $9.20 and its two-hundred day moving average is $9.45.

Kura Oncology (NASDAQ:KURA) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.05. Kura Oncology had a negative net margin of 411.19% and a negative return on equity of 141.95%. The company had revenue of $18.27 million for the quarter, compared to analysts’ expectations of $25.97 million. As a group, equities research analysts anticipate that Kura Oncology, Inc. will post -3.51 EPS for the current year.

Institutional Trading of Kura Oncology

Several institutional investors have recently modified their holdings of KURA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kura Oncology by 6.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,008 shares of the company’s stock worth $333,000 after purchasing an additional 2,977 shares during the last quarter. Strs Ohio bought a new stake in shares of Kura Oncology in the first quarter worth $143,000. Legal & General Group Plc grew its stake in shares of Kura Oncology by 35.1% in the second quarter. Legal & General Group Plc now owns 72,910 shares of the company’s stock worth $421,000 after purchasing an additional 18,930 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Kura Oncology by 13.0% in the second quarter. Rhumbline Advisers now owns 118,896 shares of the company’s stock worth $686,000 after purchasing an additional 13,690 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Kura Oncology by 244.5% in the second quarter. American Century Companies Inc. now owns 232,752 shares of the company’s stock worth $1,343,000 after purchasing an additional 165,189 shares during the last quarter.

Kura Oncology Company Profile

Kura Oncology, Inc (NASDAQ: KURA) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted oncology therapies. Headquartered in La Jolla, California, the company leverages expertise in molecular biology and precision medicine to identify key drivers of cancer growth and design small-molecule inhibitors that block those pathways. Kura’s research platform integrates genomic insights with medicinal chemistry to advance candidates against well-validated targets in solid tumors and hematologic malignancies.

The company’s lead clinical candidate, tipifarnib, is a farnesyltransferase inhibitor being evaluated for the treatment of HRAS-mutant head and neck squamous cell carcinoma and various non-small cell lung cancers.