OnKure Therapeutics (NASDAQ:OKUR) Major Shareholder Sells $3,354,862.15 in Stock

OnKure Therapeutics (NASDAQ:OKUR) major shareholder Cormorant Asset Management, Lp sold 1,813,439 shares of the firm’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $1.85, for a total value of $3,354,862.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Cormorant Asset Management, Lp also recently made the following trade(s):

• On Monday, May 12th, Cormorant Asset Management, Lp sold 24,300 shares of OnKure Therapeutics stock. The stock was sold at an average price of $1.99, for a total transaction of $48,357.00.

OnKure Therapeutics Price Performance

OKUR traded up $0.20 on Monday, reaching $2.20. 159,684 shares of the company traded hands, compared to its average volume of 105,749. The company has a market cap of $29.72 million, a price-to-earnings ratio of -0.18 and a beta of 0.40. The stock’s 50 day moving average price is $3.29 and its 200-day moving average price is $7.27. OnKure Therapeutics has a 52-week low of $1.70 and a 52-week high of $20.00.

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

Hedge Funds Weigh In On OnKure Therapeutics

Several large investors have recently made changes to their positions in the business. Aisling Capital Management LP acquired a new position in shares of OnKure Therapeutics during the fourth quarter valued at about $762,000. Renaissance Technologies LLC bought a new position in OnKure Therapeutics during the fourth quarter valued at about $408,000. Geode Capital Management LLC acquired a new position in OnKure Therapeutics in the 4th quarter valued at approximately $659,000. Highbridge Capital Management LLC bought a new stake in shares of OnKure Therapeutics in the 4th quarter worth approximately $3,438,000. Finally, Barclays PLC acquired a new stake in shares of OnKure Therapeutics during the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on OKUR shares. Evercore ISI started coverage on shares of OnKure Therapeutics in a research report on Wednesday, April 30th. They set an “outperform” rating on the stock. HC Wainwright decreased their price objective on shares of OnKure Therapeutics from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Oppenheimer lowered their target price on 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 research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price 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.