Short Interest in Kura Oncology, Inc. (NASDAQ:KURA) Declines By 11.2%

Kura Oncology, Inc. (NASDAQ:KURA) saw a significant decline in short interest in June. As of June 30th, there was short interest totalling 8,740,000 shares, a decline of 11.2% from the June 15th total of 9,840,000 shares. Based on an average daily volume of 741,800 shares, the days-to-cover ratio is currently 11.8 days. Currently, 13.5% of the shares of the stock are sold short.

Insider Transactions at Kura Oncology

In other news, insider Teresa Brophy Bair sold 2,615 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $22.15, for a total transaction of $57,922.25. Following the completion of the transaction, the insider now owns 68,979 shares of the company’s stock, valued at $1,527,884.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its position in Kura Oncology by 25.6% in the second quarter. Harbor Capital Advisors Inc. now owns 38,790 shares of the company’s stock worth $799,000 after purchasing an additional 7,899 shares during the last quarter. Artal Group S.A. raised its stake in shares of Kura Oncology by 8.6% in 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 period. Price T Rowe Associates Inc. MD raised its stake in shares of Kura Oncology by 17.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,148 shares of the company’s stock worth $430,000 after buying an additional 2,940 shares during the period. Avoro Capital Advisors LLC raised its stake in Kura Oncology by 29.2% during the 1st 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 period. Finally, Affinity Asset Advisors LLC raised its stake in Kura Oncology by 281.4% during the 1st quarter. Affinity Asset Advisors LLC now owns 730,492 shares of the company’s stock valued at $15,581,000 after purchasing an additional 538,957 shares during the period.

Analyst Ratings Changes

Several brokerages have issued reports on KURA. HC Wainwright reaffirmed a “buy” rating and issued a $32.00 target price on shares of Kura Oncology in a research note on Monday, June 24th. StockNews.com lowered Kura Oncology from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of Kura Oncology in a research note on Tuesday, June 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $37.00 price objective on shares of Kura Oncology in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Kura Oncology currently has an average rating of “Moderate Buy” and an average price target of $28.36.

Kura Oncology Stock Down 6.5 %

KURA traded down $1.51 during trading on Wednesday, reaching $21.72. The stock had a trading volume of 429,017 shares, compared to its average volume of 1,066,897. The stock’s 50 day moving average is $21.13 and its two-hundred day moving average is $20.05. The company has a current ratio of 16.67, a quick ratio of 16.67 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -10.07 and a beta of 0.88. Kura Oncology has a one year low of $7.41 and a one year high of $24.17.

Kura Oncology (NASDAQ:KURA) last released its earnings results on Thursday, May 2nd. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.03). During the same period in the previous year, the firm earned ($0.50) earnings per share. Kura Oncology’s quarterly revenue was up .0% on a year-over-year basis. As a group, analysts expect that Kura Oncology will post -2.56 earnings per share for the current year.

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.