OnKure Therapeutics (NASDAQ:OKUR) Issues Earnings Results

OnKure Therapeutics (NASDAQ:OKUR) released its quarterly earnings results on Tuesday. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.37), FiscalAI reports.

OnKure Therapeutics Stock Performance

Shares of OKUR traded down $0.11 during mid-day trading on Thursday, reaching $3.96. The company had a trading volume of 93,787 shares, compared to its average volume of 231,898. The firm has a 50-day moving average price of $4.07 and a 200 day moving average price of $3.31. OnKure Therapeutics has a 52 week low of $1.70 and a 52 week high of $5.38. The company has a market capitalization of $54.13 million, a price-to-earnings ratio of -0.91 and a beta of 0.36.

Analysts Set New Price Targets

OKUR has been the topic of several analyst reports. Wall Street Zen upgraded OnKure Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. HC Wainwright decreased their price objective on OnKure Therapeutics from $34.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Finally, Weiss Ratings upgraded OnKure Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.00.

Institutional Trading of OnKure Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. ADAR1 Capital Management LLC bought a new stake in shares of OnKure Therapeutics in the 4th quarter worth approximately $2,941,000. Shay Capital LLC boosted its position in shares of OnKure Therapeutics by 17.4% in the 3rd quarter. Shay Capital LLC now owns 917,934 shares of the company’s stock worth $2,524,000 after purchasing an additional 135,888 shares in the last quarter. Prosight Management LP lifted its position in OnKure Therapeutics by 204.9% in the 4th quarter. Prosight Management LP now owns 816,909 shares of the company’s stock valued at $2,369,000 after acquiring an additional 548,950 shares in the last quarter. Rosalind Advisors Inc. bought a new position in OnKure Therapeutics in the 4th quarter valued at approximately $2,118,000. Finally, Renaissance Technologies LLC lifted its position in OnKure Therapeutics by 40.7% in the 4th quarter. Renaissance Technologies LLC now owns 247,350 shares of the company’s stock valued at $717,000 after acquiring an additional 71,600 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

About OnKure Therapeutics

OnKure Therapeutics, Inc (NASDAQ: OKUR) is a clinical-stage biopharmaceutical company focused on the development of novel therapies for oncology and autoimmune diseases. Headquartered in Westlake Village, California, OnKure is advancing small molecule drug candidates designed to modulate key signaling pathways implicated in cancer cell growth and immune system function.

The company’s lead oncology asset, OKI-179, is an orally available histone deacetylase (HDAC) inhibitor being evaluated in Phase I and Phase II clinical studies for a range of solid tumors.