Kura Oncology (NASDAQ:KURA) Sees Large Volume Increase on Analyst Upgrade

Shares of Kura Oncology, Inc. (NASDAQ:KURA - Get Free Report) saw unusually-strong 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. Approximately 1,545,867 shares were traded 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.

Other analysts have also recently issued research reports about the stock. Wedbush reiterated an "outperform" rating and issued a $37.00 price target on shares of Kura Oncology in a research note on Monday, November 4th. JMP Securities reiterated a "market outperform" rating and set a $32.00 price target on shares of Kura Oncology in a report on Tuesday. StockNews.com lowered Kura Oncology from a "hold" rating to a "sell" rating in a research note on Wednesday. Lifesci Capital upgraded Kura Oncology to a "strong-buy" rating in a research note on Tuesday, October 22nd. Finally, UBS Group assumed coverage on Kura Oncology in a research note on Thursday, October 24th. They issued a "buy" rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Kura Oncology has an average rating of "Moderate Buy" and a consensus price target of $29.38.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position 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 acquiring an additional 577,732 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Kura Oncology by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,065,903 shares of the company's stock valued at $86,726,000 after purchasing an additional 28,212 shares during the last quarter. Sofinnova Investments Inc. increased its position in Kura Oncology by 64.4% during the 2nd quarter. Sofinnova Investments Inc. now owns 825,243 shares of the company's stock worth $16,992,000 after purchasing an additional 323,303 shares in the last quarter. Armistice Capital LLC lifted its stake in Kura Oncology by 14.7% in the 2nd 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 during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Kura Oncology in the first quarter valued at approximately $110,000.

Kura Oncology Stock Up 7.4 %

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 company has a market capitalization of $839.81 million, a price-to-earnings ratio of -4.58 and a beta of 0.86. The firm's fifty day moving average price is $17.88 and its 200-day moving average price is $19.69.

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.