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

Kura Oncology, Inc. (NASDAQ:KURA - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $18.58, but opened at $17.98. Kura Oncology shares last traded at $18.15, with a volume of 75,898 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus lowered shares of Kura Oncology from a "buy" rating to a "hold" rating and cut their price objective for the company from $26.00 to $19.00 in a research report on Monday. JMP Securities reiterated a "market outperform" rating and issued a $32.00 target price on shares of Kura Oncology in a report on Monday, August 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Kura Oncology in a research note on Monday, September 9th. StockNews.com downgraded Kura Oncology from a "hold" rating to a "sell" rating in a report on Thursday, August 22nd. Finally, Wedbush reiterated an "outperform" rating and issued a $37.00 target price on shares of Kura Oncology in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kura Oncology presently has an average rating of "Moderate Buy" and a consensus target price of $29.20.

Kura Oncology Price Performance

The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -8.32 and a beta of 0.84. The business's 50-day moving average price is $19.58 and its two-hundred day moving average price is $20.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 14.94 and a quick ratio of 14.94.

Kura Oncology (NASDAQ:KURA - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.04. During the same quarter in the prior year, the company posted ($0.53) earnings per share. The company's revenue was up .0% on a year-over-year basis. On average, research analysts forecast that Kura Oncology, Inc. will post -2.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Kura Oncology

Large investors have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC grew its holdings in shares of Kura Oncology by 29.2% during the first quarter. Avoro Capital Advisors LLC now owns 3,850,000 shares of the company's stock valued at $82,120,000 after purchasing an additional 870,000 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Kura Oncology by 50.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,731,577 shares of the company's stock worth $35,653,000 after buying an additional 577,732 shares during the last quarter. Affinity Asset Advisors LLC increased its position in Kura Oncology by 281.4% in the first quarter. Affinity Asset Advisors LLC now owns 730,492 shares of the company's stock worth $15,581,000 after buying an additional 538,957 shares during the period. Sofinnova Investments Inc. lifted its stake in Kura Oncology by 64.4% in the second quarter. Sofinnova Investments Inc. now owns 825,243 shares of the company's stock valued at $16,992,000 after buying an additional 323,303 shares during the last quarter. Finally, Armistice Capital LLC boosted its holdings in shares of Kura Oncology by 14.7% during the second quarter. Armistice Capital LLC now owns 2,350,000 shares of the company's stock valued at $48,386,000 after acquiring an additional 302,000 shares during the period.

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.