OnKure Therapeutics, Inc. (NASDAQ:OKUR) Short Interest Up 211.1% in June

OnKure Therapeutics, Inc. (NASDAQ:OKUR) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 878,668 shares, a growth of 211.1% from the June 15th total of 282,400 shares. Based on an average daily trading volume, of 755,793 shares, the days-to-cover ratio is currently 1.2 days. Currently, 2.2% of the shares of the stock are short sold.

OnKure Therapeutics Trading Down 4.0%

OKUR stock traded down $0.17 during mid-day trading on Monday, reaching $4.11. 114,814 shares of the stock traded hands, compared to its average volume of 281,050. OnKure Therapeutics has a 52-week low of $1.91 and a 52-week high of $5.38. The stock’s fifty day moving average is $4.16 and its 200-day moving average is $3.68. The company has a market cap of $166.02 million, a P/E ratio of -0.95 and a beta of 0.27.

OnKure Therapeutics (NASDAQ:OKUR) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.37). Equities research analysts expect that OnKure Therapeutics will post -3.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on OKUR. Weiss Ratings upgraded shares of OnKure Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. JonesTrading cut shares of OnKure Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of OnKure Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, HC Wainwright cut their target price on shares of OnKure Therapeutics from $34.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Institutional Trading of OnKure Therapeutics

Several large investors have recently added to or reduced their stakes in the company. DV Trading LLC purchased a new stake in shares of OnKure Therapeutics in the first quarter valued at $998,000. NewEdge Advisors LLC acquired a new position in shares of OnKure Therapeutics in the 1st quarter valued at about $184,000. Vivo Capital LLC purchased a new position in OnKure Therapeutics during the first quarter valued at approximately $7,981,000. ADAR1 Capital Management LLC grew its position in OnKure Therapeutics by 140.1% during the first quarter. ADAR1 Capital Management LLC now owns 2,434,941 shares of the company’s stock valued at $10,081,000 after purchasing an additional 1,420,783 shares in the last quarter. Finally, Affinity Asset Advisors LLC purchased a new position in OnKure Therapeutics in the first quarter valued at about $998,000. 90.98% of the stock is owned by institutional investors and hedge funds.

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.