Kura Oncology (NASDAQ:KURA) Shares Gap Down - Here's What Happened

Shares of Kura Oncology, Inc. (NASDAQ:KURA - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $9.05, but opened at $8.15. Kura Oncology shares last traded at $7.77, with a volume of 1,473,412 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on KURA shares. TD Cowen restated a "buy" rating on shares of Kura Oncology in a research note on Thursday, November 21st. Bank of America decreased their price objective on Kura Oncology from $36.00 to $29.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group dropped their target price on Kura Oncology from $32.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. UBS Group started coverage on shares of Kura Oncology in a research report on Thursday, October 24th. They issued a "buy" rating and a $27.00 price objective on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Kura Oncology in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.13.

Kura Oncology Stock Performance

The firm has a fifty day moving average of $8.74 and a 200-day moving average of $14.95. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $683.51 million, a price-to-earnings ratio of -3.72 and a beta of 0.78.

Kura Oncology (NASDAQ:KURA - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.63) EPS for the quarter, beating analysts' consensus estimates of ($0.64) by $0.01. During the same quarter last year, the firm earned ($0.50) earnings per share. As a group, sell-side analysts anticipate that Kura Oncology, Inc. will post -2.44 EPS for the current year.

Insider Buying and Selling

In other news, insider Mollie Leoni sold 4,963 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $7.87, for a total transaction of $39,058.81. Following the completion of the transaction, the insider now owns 88,253 shares of the company's stock, valued at $694,551.11. This represents a 5.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Thomas James Doyle sold 4,949 shares of Kura Oncology stock in a transaction on Tuesday, January 28th. The shares were 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 owns 88,193 shares in the company, valued at $694,078.91. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,255 shares of company stock worth $100,739 in the last ninety days. Insiders own 5.50% of the company's stock.

Hedge Funds Weigh In On Kura Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of KURA. The Manufacturers Life Insurance Company lifted 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 in the last quarter. nVerses Capital LLC purchased a new stake in Kura Oncology during the 3rd quarter worth approximately $25,000. China Universal Asset Management Co. Ltd. raised its position in shares of Kura Oncology by 64.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,739 shares of the company's stock valued at $288,000 after purchasing an additional 5,788 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Kura Oncology by 21.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 47,295 shares of the company's stock valued at $924,000 after buying an additional 8,505 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Kura Oncology by 35.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,655 shares of the company's stock worth $579,000 after buying an additional 7,722 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.