Kura Oncology (NASDAQ:KURA) Reaches New 1-Year Low – Here’s Why

Kura Oncology, Inc. (NASDAQ:KURA) has seen its stock price fall to a new 52-week low as of Monday. The stock dipped to $8.47 during trading, closing slightly higher at $8.51, with a total trading volume of 208,537 shares. Previously, the stock had rested at $8.67.

Recent Analyst Ratings

In recent weeks, several financial analysts have evaluated Kura Oncology. Stifel Nicolaus downgraded the stock from a “buy” rating to a “hold” rating while also reducing their price target from $26.00 to $19.00 on October 14th. Following this, on October 22nd, Lifesci Capital upgraded the stock to a “strong buy.” On November 21st, TD Cowen reaffirmed a “buy” rating for Kura Oncology shares. JMP Securities also reiterated a “market outperform” rating, establishing a target price of $32.00 on November 19th. HC Wainwright further raised their target price from $32.00 to $37.00, maintaining a “buy” status. Currently, one analyst has rated the stock as a sell, one as hold, eight as buy, and one as strong buy. According to data from MarketBeat.com, Kura Oncology has a consensus rating of “Moderate Buy,” with a target price averaging $29.86.

Stock Performance Overview

The stock price for Kura Oncology has declined by 2.9%. The company currently holds a market capitalization of $654.77 million, with a P/E ratio of -3.57 and a beta value of 0.75. The stock's 50-day moving average stands at $13.36, while the 200-day moving average is $17.67. Financially, Kura Oncology has a debt-to-equity ratio of 0.02 and a notably high current ratio and quick ratio, both at 11.47.

Institutional Investments in Kura Oncology

Recent activities among hedge funds have shown increased interest in Kura Oncology. During the second quarter, Sofinnova Investments Inc. expanded its holdings in Kura by 64.4%, owning 825,243 shares valued at approximately $16.99 million after adding 323,303 shares. Armistice Capital LLC similarly raised its stake in Kura Oncology by 14.7%, acquiring an additional 302,000 shares for a total of 2,350,000 shares worth $48.39 million. Candriam S.C.A. saw a 39.2% increase in their share acquisition during the same period, owning 906,482 shares now worth around $18.66 million. Zurcher Kantonalbank Zurich Cantonalbank also raised its position by 34.7%, while HighVista Strategies LLC made a new investment valued at $345,000.

Overview of Kura Oncology

Kura Oncology, Inc. is a clinical-stage biopharmaceutical firm specializing in developing medications for cancer treatment. Its drug pipeline includes small molecule candidates targeting various forms of cancer. The company’s primary products are ziftomenib, a small molecule inhibitor aimed at treating acute leukemias; tipifarnib, which works in combination with alpelisib for treating PIK3CA-dependent head and neck squamous cell carcinoma; and KO-2806, a farnesyl transferase inhibitor intended for solid tumor treatment.

Kura, Oncology, Stocks