Kura Oncology (NASDAQ:KURA) Shares Gap Down on Analyst Downgrade

Kura Oncology, Inc. (NASDAQ:KURA) gapped down before the market opened on Thursday after Jefferies Financial Group lowered their price target on the stock from $32.00 to $28.00. The stock had previously closed at $15.91, but opened at $11.80. Jefferies Financial Group currently has a buy rating on the stock. Kura Oncology shares last traded at $9.78, with a volume of 3,092,133 shares trading hands.

Other analysts have also recently issued research reports about the stock. Lifesci Capital raised shares of Kura Oncology to a “strong-buy” rating in a research report on Tuesday, October 22nd. StockNews.com cut shares of Kura Oncology from a “hold” rating to a “sell” rating in a research report on Wednesday. UBS Group began coverage on shares of Kura Oncology in a report on Thursday, October 24th. They issued a “buy” rating and a $27.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Kura Oncology in a research note on Thursday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $32.00 price target on shares of Kura Oncology in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kura Oncology currently has an average rating of “Moderate Buy” and a consensus target price of $29.43.

Hedge Funds Weigh In On Kura Oncology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in Kura Oncology by 50.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,731,577 shares of the company’s stock valued at $35,653,000 after buying an additional 577,732 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Kura Oncology by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,065,903 shares of the company’s stock valued at $86,726,000 after buying an additional 28,212 shares during the last quarter. Sofinnova Investments Inc. boosted its position in shares of Kura Oncology by 64.4% during the second quarter. Sofinnova Investments Inc. now owns 825,243 shares of the company’s stock worth $16,992,000 after acquiring an additional 323,303 shares during the last quarter. Armistice Capital LLC grew its holdings in shares of Kura Oncology by 14.7% in the second quarter. Armistice Capital LLC now owns 2,350,000 shares of the company’s stock valued at $48,386,000 after purchasing an additional 302,000 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Kura Oncology during the first quarter valued at $110,000.

Kura Oncology Stock Down 37.1 %

The business’s 50 day simple moving average is $18.28 and its 200 day simple moving average is $19.82. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $777.68 million, a PE ratio of -4.45 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.