Jennison Associates LLC Purchases New Holdings in Kura Oncology, Inc. (NASDAQ:KURA)

Jennison Associates LLC purchased a new position in Kura Oncology, Inc. (NASDAQ:KURA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,497 shares of the company's stock, valued at approximately $623,000. Jennison Associates LLC owned approximately 0.09% of Kura Oncology as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in Kura Oncology by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,536 shares of the company's stock worth $793,000 after buying an additional 1,976 shares during the period. nVerses Capital LLC bought a new position in shares of Kura Oncology in the third quarter worth about $25,000. China Universal Asset Management Co. Ltd. grew its position in shares of Kura Oncology by 64.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,739 shares of the company's stock worth $288,000 after purchasing an additional 5,788 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Kura Oncology by 21.9% during the third quarter. Harbor Capital Advisors Inc. now owns 47,295 shares of the company's stock worth $924,000 after purchasing an additional 8,505 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Kura Oncology by 35.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,655 shares of the company's stock valued at $579,000 after purchasing an additional 7,722 shares during the period.

Insider Activity

In other Kura Oncology news, SVP Thomas James Doyle sold 4,949 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $7.87, for a total value of $38,948.63. Following the completion of the transaction, the senior vice president now directly owns 88,193 shares of the company's stock, valued at approximately $694,078.91. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mollie Leoni sold 4,963 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $7.87, for a total value of $39,058.81. Following the completion of the sale, the insider now owns 88,253 shares in the company, valued at approximately $694,551.11. This represents a 5.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,255 shares of company stock valued at $100,739. Company insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KURA shares. BTIG Research lowered shares of Kura Oncology from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. HC Wainwright lifted their price objective on Kura Oncology from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Bank of America lowered their price objective on shares of Kura Oncology from $36.00 to $29.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. UBS Group assumed coverage on shares of Kura Oncology in a research note on Thursday, October 24th. They set a "buy" rating and a $27.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Kura Oncology in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.13.

Kura Oncology Stock Performance

Shares of NASDAQ KURA traded down $0.45 during midday trading on Tuesday, reaching $8.34. The company had a trading volume of 1,928,344 shares, compared to its average volume of 1,902,870. Kura Oncology, Inc. has a 1 year low of $6.98 and a 1 year high of $24.17. The business's 50-day simple moving average is $8.63 and its 200 day simple moving average is $14.78. 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 stock has a market cap of $648.52 million, a P/E ratio of -3.53 and a beta of 0.78.

Kura Oncology 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.