Cormorant Asset Management, Lp Sells 24,300 Shares of OnKure Therapeutics (NASDAQ:OKUR) Stock

OnKure Therapeutics (NASDAQ:OKUR) major shareholder Cormorant Asset Management, Lp sold 24,300 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1.99, for a total transaction of $48,357.00. Following the completion of the sale, the insider now owns 1,813,439 shares in the company, valued at $3,608,743.61. This represents a 1.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

OnKure Therapeutics Stock Performance

Shares of NASDAQ:OKUR opened at $2.06 on Friday. The firm has a market cap of $27.68 million, a PE ratio of -0.17 and a beta of 0.40. The firm’s fifty day moving average is $3.35 and its 200-day moving average is $7.52. OnKure Therapeutics has a 52 week low of $1.70 and a 52 week high of $20.00.

OnKure Therapeutics (NASDAQ:OKUR) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.19) EPS for the quarter, topping analysts’ consensus estimates of ($1.41) by $0.22. Sell-side analysts forecast that OnKure Therapeutics will post -4.05 EPS for the current year.

Hedge Funds Weigh In On OnKure Therapeutics

A number of hedge funds have recently modified their holdings of OKUR. Barclays PLC bought a new position in OnKure Therapeutics during the fourth quarter worth $75,000. OMERS ADMINISTRATION Corp bought a new position in OnKure Therapeutics during the fourth quarter worth $104,000. Walleye Capital LLC bought a new position in OnKure Therapeutics during the fourth quarter worth $116,000. Two Sigma Advisers LP bought a new position in OnKure Therapeutics during the fourth quarter worth $122,000. Finally, Shay Capital LLC bought a new position in OnKure Therapeutics during the fourth quarter worth $129,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OKUR shares. Oppenheimer cut their target price on shares of OnKure Therapeutics from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Evercore ISI started coverage on shares of OnKure Therapeutics in a research report on Wednesday, April 30th. They issued an “outperform” rating on the stock. Finally, HC Wainwright cut their target price on shares of OnKure Therapeutics from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, OnKure Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $32.33.

OnKure Therapeutics Company Profile

OnKure Therapeutics, Inc engages in discovering and developing precision medicines that target biologically validated drivers of cancers underserved by available therapies. The company uses a structure and computational chemistry driven drug design platform, committed to improving clinical outcomes for patients by building a robust pipeline of small molecule drugs designed to selectively target specific mutations thought to be key drivers of cancer.