Kura Oncology, Inc. (NASDAQ:KURA) Sees Large Decrease in Short Interest

Kura Oncology, Inc. (NASDAQ:KURA) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 10,190,000 shares, a drop of 5.2% from the September 15th total of 10,750,000 shares. Based on an average daily volume of 577,600 shares, the days-to-cover ratio is currently 17.6 days. Approximately 15.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KURA. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Kura Oncology in a report on Monday, September 9th. Stifel Nicolaus cut shares of Kura Oncology from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $19.00 in a report on Monday. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Kura Oncology in a research report on Monday, August 12th. StockNews.com lowered shares of Kura Oncology from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $32.00 price target on shares of Kura Oncology in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kura Oncology currently has an average rating of “Moderate Buy” and a consensus target price of $29.20.

Kura Oncology Stock Performance

Shares of Kura Oncology stock opened at $18.09 on Friday. Kura Oncology has a fifty-two week low of $7.41 and a fifty-two week high of $24.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 14.94 and a quick ratio of 14.94. The firm has a market capitalization of $1.38 billion, a P/E ratio of -8.43 and a beta of 0.84. The company’s 50 day moving average price is $19.55 and its two-hundred day moving average price is $20.23.

Kura Oncology (NASDAQ:KURA) last issued its earnings results on Thursday, August 8th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.04. During the same quarter last year, the business posted ($0.53) earnings per share. Kura Oncology’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts forecast that Kura Oncology will post -2.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kura Oncology

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings 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 worth $86,726,000 after purchasing an additional 28,212 shares during the period. Avoro Capital Advisors LLC raised its stake in Kura Oncology by 29.2% during the first quarter. Avoro Capital Advisors LLC now owns 3,850,000 shares of the company’s stock worth $82,120,000 after buying an additional 870,000 shares during the last quarter. Armistice Capital LLC raised its stake in Kura Oncology by 14.7% during the second quarter. Armistice Capital LLC now owns 2,350,000 shares of the company’s stock worth $48,386,000 after buying an additional 302,000 shares during the last quarter. Artal Group S.A. raised its stake in Kura Oncology by 8.6% during the first quarter. Artal Group S.A. now owns 1,919,884 shares of the company’s stock worth $40,951,000 after buying an additional 151,828 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Kura Oncology by 50.1% in 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 purchasing an additional 577,732 shares in the last quarter.

Kura Oncology Company Profile

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.