OnKure Therapeutics (NASDAQ:OKUR) Stock Falls 4.8% – What’s Next?

Shares of OnKure Therapeutics, Inc. (NASDAQ:OKUR) dropped 4.8% during mid-day trading on Monday. The company traded as low as $2.60 and last traded at $2.76. 442,229 shares were traded during trading, an increase of 209% from the average daily volume of 142,954 shares. The stock had previously closed at $2.90.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Oppenheimer restated an “outperform” rating and issued a $14.00 price target on shares of OnKure Therapeutics in a research report on Friday, August 14th. Wall Street Zen raised shares of OnKure Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. HC Wainwright reduced their target price on OnKure Therapeutics to $21.00 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, Weiss Ratings upgraded OnKure Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, OnKure Therapeutics has a consensus rating of “Hold” and a consensus target price of $17.50.

OnKure Therapeutics Stock Performance

The company has a market cap of $106.84 million, a PE ratio of -0.75 and a beta of 0.23. The company has a 50 day simple moving average of $3.64 and a two-hundred day simple moving average of $4.03.

OnKure Therapeutics (NASDAQ:OKUR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.23. As a group, analysts expect that OnKure Therapeutics, Inc. will post -1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OnKure Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC acquired a new stake in shares of OnKure Therapeutics during the 1st quarter valued at $184,000. Bank of New York Mellon Corp acquired a new position in shares of OnKure Therapeutics in the second quarter worth $329,000. Affinity Asset Advisors LLC purchased a new stake in shares of OnKure Therapeutics during the first quarter worth $998,000. DV Trading LLC purchased a new stake in shares of OnKure Therapeutics during the first quarter worth $998,000. Finally, Seven Fleet Capital Management LP acquired a new stake in OnKure Therapeutics during the second quarter valued at $1,099,000. Hedge funds and other institutional investors 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 is working to discover and advance small-molecule therapies designed to target biological pathways involved in tumor growth and the suppression of antitumor immune responses.

Its lead investigational product candidate, OKN4395, is an orally administered small-molecule antagonist of the EP4 receptor, which is associated with tumor-promoting inflammation and immune suppression.