OnKure Therapeutics (NASDAQ:OKUR) Posts Quarterly Earnings Results, Beats Expectations By $0.27 EPS

OnKure Therapeutics (NASDAQ:OKUR) released its quarterly earnings data on Tuesday. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.27, Zacks reports.

OnKure Therapeutics Trading Up 2.0%

OnKure Therapeutics stock traded up $0.08 during trading hours on Tuesday, reaching $4.10. 201,955 shares of the company were exchanged, compared to its average volume of 263,641. The firm has a market cap of $165.64 million, a price-to-earnings ratio of -0.95 and a beta of 0.30. The stock has a 50-day moving average of $4.26 and a 200 day moving average of $3.82. OnKure Therapeutics has a 12 month low of $1.91 and a 12 month high of $5.38.

Wall Street Analyst Weigh In

OKUR has been the subject of a number of analyst reports. Weiss Ratings cut shares of OnKure Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of OnKure Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. HC Wainwright reduced their price objective on shares of OnKure Therapeutics to $21.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Finally, JonesTrading cut shares of OnKure Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, OnKure Therapeutics presently has an average rating of “Hold” and a consensus price target of $21.00.

Institutional Trading of OnKure Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of OKUR. XTX Topco Ltd acquired a new position in OnKure Therapeutics in the 2nd quarter valued at $25,000. Jane Street Group LLC acquired a new position in OnKure Therapeutics during the 4th quarter worth $56,000. Hsbc Holdings PLC bought a new stake in OnKure Therapeutics during the fourth quarter valued at about $58,000. Rangeley Capital LLC bought a new stake in OnKure Therapeutics during the second quarter valued at about $71,000. Finally, Barclays PLC grew its position in shares of OnKure Therapeutics by 4,286.8% in the fourth quarter. Barclays PLC now owns 27,242 shares of the company’s stock valued at $79,000 after purchasing an additional 26,621 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

OnKure Therapeutics Company Profile

OnKure Therapeutics, Inc (NASDAQ: OKUR) is a clinical-stage biopharmaceutical company focused on the development of novel therapies for oncology and autoimmune diseases. Headquartered in Westlake Village, California, OnKure is advancing small molecule drug candidates designed to modulate key signaling pathways implicated in cancer cell growth and immune system function.

The company’s lead oncology asset, OKI-179, is an orally available histone deacetylase (HDAC) inhibitor being evaluated in Phase I and Phase II clinical studies for a range of solid tumors.