OnKure Therapeutics (NASDAQ:OKUR) Trading Down 4.7% – Time to Sell?

OnKure Therapeutics (NASDAQ:OKUR) dropped 4.7% during mid-day trading on Monday . The company traded as low as $4.81 and last traded at $4.83. Approximately 22,442 shares were traded during trading, a decline of 75% from the average daily volume of 88,026 shares. The stock had previously closed at $5.07.

Analyst Upgrades and Downgrades

OKUR has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of OnKure Therapeutics in a research report on Friday, November 8th. Leerink Partners assumed coverage on shares of OnKure Therapeutics in a research note on Thursday, December 5th. They set an “outperform” rating and a $33.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of OnKure Therapeutics to a “strong-buy” rating in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, OnKure Therapeutics has an average rating of “Buy” and an average target price of $36.00.

OnKure Therapeutics Stock Down 4.7 %

The stock has a market cap of $16.15 million, a price-to-earnings ratio of -0.40 and a beta of 0.25. The stock’s 50 day moving average price is $6.35.

Institutional Trading of OnKure Therapeutics

Large investors have recently made changes to their positions in the stock. Barclays PLC bought a new stake in shares of OnKure Therapeutics in the fourth quarter worth approximately $75,000. OMERS ADMINISTRATION Corp purchased a new position in shares of OnKure Therapeutics in the fourth quarter worth approximately $104,000. Walleye Capital LLC purchased a new position in shares of OnKure Therapeutics in the fourth quarter worth approximately $116,000. Two Sigma Advisers LP purchased a new position in shares of OnKure Therapeutics in the fourth quarter worth approximately $122,000. Finally, Shay Capital LLC purchased a new position in shares of OnKure Therapeutics in the fourth quarter worth approximately $129,000. 90.98% of the stock is currently owned by institutional investors.

About OnKure Therapeutics

OnKure Therapeutics, Inc engages in discovering and developing precision medicines that target biologically validated drivers of cancers underserved by available therapies. The company uses a structure and computational chemistry driven drug design platform, committed to improving clinical outcomes for patients by building a robust pipeline of small molecule drugs designed to selectively target specific mutations thought to be key drivers of cancer.