OnKure Therapeutics (NASDAQ:OKUR) Shares Cross Above 50-Day Moving Average – Time to Sell?

Shares of OnKure Therapeutics, Inc. (NASDAQ:OKUR) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $2.78 and traded as high as $2.88. OnKure Therapeutics shares last traded at $2.87, with a volume of 555,818 shares changing hands.

Wall Street Analysts Forecast Growth

OKUR has been the topic of several research analyst reports. Weiss Ratings raised OnKure Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 26th. Oppenheimer reiterated an “outperform” rating and set a $14.00 price objective on shares of OnKure Therapeutics in a research note on Friday, August 14th. Finally, HC Wainwright dropped their target price on shares of OnKure Therapeutics to $21.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.50.

OnKure Therapeutics Price Performance

The company has a market cap of $115.95 million, a PE ratio of -1.04 and a beta of 0.18. The stock has a 50 day simple moving average of $2.78 and a two-hundred day simple moving average of $3.59.

OnKure Therapeutics (NASDAQ:OKUR) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.05. As a group, equities analysts anticipate that OnKure Therapeutics, Inc. will post -1.47 EPS for the current fiscal year.

Institutional Trading of OnKure Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP bought a new position in shares of OnKure Therapeutics during the second quarter valued at about $1,099,000. Bank of New York Mellon Corp acquired a new stake in OnKure Therapeutics in the 2nd quarter valued at about $329,000. DV Trading LLC purchased a new position in OnKure Therapeutics in the first quarter worth approximately $998,000. NewEdge Advisors LLC purchased a new stake in OnKure Therapeutics in the 1st quarter valued at $184,000. Finally, Vivo Capital LLC purchased a new stake in shares of OnKure Therapeutics in the 1st quarter worth about $7,981,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

OnKure Therapeutics Company Profile

OnKure Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for cancer. The company’s research is centered on small-molecule therapies designed to target cancer-driving transcription factors and related proteins that are difficult to address with conventional drug approaches.

Its lead product candidate, OKN4395, is an oral small-molecule inhibitor of the EP300/CBP bromodomains. The program is being investigated as a potential treatment for solid tumors, including in combination with immune checkpoint inhibitors such as pembrolizumab.