Kura Oncology (NASDAQ:KURA) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Kura Oncology, Inc. (NASDAQ:KURA) saw an uptick in trading volume on Friday after HC Wainwright raised their price target on the stock from $32.00 to $37.00. HC Wainwright currently has a buy rating on the stock. 1,545,867 shares changed hands during trading, an increase of 59% from the previous session’s volume of 970,186 shares.The stock last traded at $10.83 and had previously closed at $10.06.

KURA has been the subject of several other reports. Cantor Fitzgerald restated an “overweight” rating on shares of Kura Oncology in a report on Wednesday, November 6th. JMP Securities restated a “market outperform” rating and set a $32.00 price target on shares of Kura Oncology in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Kura Oncology in a research report on Monday, November 4th. Lifesci Capital raised shares of Kura Oncology to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, UBS Group started coverage on shares of Kura Oncology in a research report on Thursday, October 24th. They set a “buy” rating and a $27.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Kura Oncology has a consensus rating of “Moderate Buy” and a consensus target price of $29.38.

Institutional Investors Weigh In On Kura Oncology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Kura Oncology by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,780,509 shares of the company’s stock worth $34,798,000 after acquiring an additional 41,535 shares during the last quarter. Barclays PLC grew its stake in shares of Kura Oncology by 104.5% in the third quarter. Barclays PLC now owns 165,484 shares of the company’s stock worth $3,234,000 after acquiring an additional 84,563 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Kura Oncology by 36.7% in the third quarter. Jane Street Group LLC now owns 126,085 shares of the company’s stock worth $2,464,000 after acquiring an additional 33,848 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Kura Oncology in the third quarter worth $146,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Kura Oncology in the third quarter worth $3,695,000.

Kura Oncology Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 11.47 and a quick ratio of 11.47. The firm’s 50 day moving average price is $18.08 and its 200-day moving average price is $19.76. The firm has a market cap of $839.85 million, a price-to-earnings ratio of -4.66 and a beta of 0.86.

About Kura Oncology

Kura Oncology, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer. The company’s pipeline consists of small molecule product candidates that target cancer. Its lead product candidates are ziftomenib, an orally bioavailable small molecule inhibitor of the menin-KMT2A interaction for the treatment of genetically defined subsets of acute leukemias, including acute myeloid leukemia and acute lymphoblastic leukemia; tipifarnib, an orally bioavailable farnesyl transferase inhibitor combination with alpelisib for patients with PIK3CA-dependent HNSCC; and KO-2806, a farnesyl transferase inhibitor for the treatment of solid tumors.