Platinum Investment Management Ltd. Boosts Position in Kura Oncology, Inc. (NASDAQ:KURA)

Platinum Investment Management Ltd. increased its position in Kura Oncology, Inc. (NASDAQ:KURA) by 82.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,533 shares of the company’s stock after purchasing an additional 34,659 shares during the period. Platinum Investment Management Ltd. owned 0.10% of Kura Oncology worth $667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Kura Oncology by 11.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,489 shares of the company’s stock valued at $144,000 after purchasing an additional 1,750 shares in the last quarter. Rhumbline Advisers boosted its stake in Kura Oncology by 2.0% during the fourth quarter. Rhumbline Advisers now owns 99,991 shares of the company’s stock valued at $871,000 after buying an additional 1,923 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Kura Oncology by 4.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 49,371 shares of the company’s stock valued at $430,000 after purchasing an additional 2,076 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Kura Oncology by 0.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 409,241 shares of the company’s stock worth $7,997,000 after acquiring an additional 3,092 shares during the last quarter. Finally, Bellevue Group AG lifted its stake in shares of Kura Oncology by 36.0% during the 3rd quarter. Bellevue Group AG now owns 13,600 shares of the company’s stock worth $266,000 after acquiring an additional 3,600 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Mollie Leoni sold 4,963 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 $39,058.81. Following the transaction, the insider now owns 88,253 shares in the company, valued at $694,551.11. This trade represents a 5.32 % decrease in their position. The sale 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 the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $7.87, for a total transaction of $38,948.63. Following the completion of the sale, the senior vice president now owns 88,193 shares in the company, valued at $694,078.91. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,729 shares of company stock worth $92,307 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on KURA shares. Bank of America cut their price target on Kura Oncology from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. BTIG Research cut Kura Oncology from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. JMP Securities reissued a “market outperform” rating and set a $28.00 target price on shares of Kura Oncology in a report on Thursday, February 6th. Cantor Fitzgerald upgraded Kura Oncology to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $36.00 target price on shares of Kura Oncology in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Kura Oncology currently has an average rating of “Moderate Buy” and an average price target of $25.50.

Kura Oncology Stock Performance

NASDAQ:KURA opened at $7.34 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 11.47 and a quick ratio of 11.47. Kura Oncology, Inc. has a 1-year low of $6.79 and a 1-year high of $23.48. The firm has a 50-day moving average of $7.82 and a two-hundred day moving average of $12.65. The stock has a market cap of $592.74 million, a P/E ratio of -3.11 and a beta of 0.85.

Kura Oncology (NASDAQ:KURA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.43. The firm had revenue of $53.88 million during the quarter, compared to analyst estimates of $57.96 million. On average, research analysts expect that Kura Oncology, Inc. will post -2.44 earnings per share for the current fiscal year.

Kura Oncology 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.