Kura Oncology (NASDAQ:KURA) Announces Quarterly Earnings Results

Kura Oncology (NASDAQ:KURA) released its earnings results on Wednesday. The company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.11, FiscalAI reports. The company had revenue of $20.87 million during the quarter, compared to the consensus estimate of $20.16 million. Kura Oncology had a negative return on equity of 141.95% and a negative net margin of 411.19%.

Kura Oncology Price Performance

NASDAQ KURA traded up $0.01 during trading hours on Wednesday, reaching $9.94. The company’s stock had a trading volume of 1,132,917 shares, compared to its average volume of 1,551,446. The stock has a market cap of $882.41 million, a PE ratio of -2.97 and a beta of 0.38. Kura Oncology has a fifty-two week low of $6.24 and a fifty-two week high of $12.49. The company’s 50-day moving average is $10.12 and its two-hundred day moving average is $9.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.14 and a current ratio of 6.15.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KURA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kura Oncology in a research note on Friday, July 17th. Citigroup reissued a “market outperform” rating on shares of Kura Oncology in a report on Thursday, May 28th. Lake Street Capital assumed coverage on shares of Kura Oncology in a report on Tuesday, April 14th. They issued a “buy” rating and a $23.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Kura Oncology in a research report on Tuesday, July 28th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $24.00 price target on shares of Kura Oncology in a report on Monday, June 15th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.46.

Insider Transactions at Kura Oncology

In other Kura Oncology news, insider Mollie Leoni sold 84,929 shares of Kura Oncology stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $9.82, for a total transaction of $834,002.78. Following the completion of the transaction, the insider owned 182,345 shares in the company, valued at approximately $1,790,627.90. The trade was a 31.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KURA. Virtu Financial LLC acquired a new position in shares of Kura Oncology during the 4th quarter worth approximately $349,000. Invesco Ltd. grew its holdings in Kura Oncology by 14.6% during the 4th quarter. Invesco Ltd. now owns 209,370 shares of the company’s stock valued at $2,175,000 after buying an additional 26,683 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Kura Oncology by 52.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 50,080 shares of the company’s stock valued at $520,000 after buying an additional 17,197 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in Kura Oncology during the fourth quarter worth $2,505,000. Finally, Virtus Investment Advisers LLC increased its position in Kura Oncology by 291.4% during the fourth quarter. Virtus Investment Advisers LLC now owns 66,870 shares of the company’s stock worth $695,000 after buying an additional 49,785 shares in 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.