OnKure Therapeutics (NASDAQ:OKUR) Shares Break Above 50 Day Moving Average – Should You Sell?

Shares of OnKure Therapeutics, Inc. (NASDAQ:OKUR) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $2.78 and traded as high as $2.88. OnKure Therapeutics shares last traded at $2.87, with a volume of 555,818 shares traded.

Wall Street Analysts Forecast Growth

OKUR has been the subject of several research analyst reports. Oppenheimer reissued an “outperform” rating and set a $14.00 price objective on shares of OnKure Therapeutics in a research note on Friday, August 14th. HC Wainwright decreased their target price on OnKure Therapeutics to $21.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Finally, Weiss Ratings raised OnKure Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.50.

OnKure Therapeutics Stock Up 13.4%

The firm has a market capitalization of $115.95 million, a P/E ratio of -1.04 and a beta of 0.18. The firm’s 50-day simple moving average is $2.78 and its 200-day simple moving average is $3.59.

OnKure Therapeutics (NASDAQ:OKUR) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.05. As a group, analysts expect that OnKure Therapeutics, Inc. will post -1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKUR. NewEdge Advisors LLC bought a new position in OnKure Therapeutics in the first quarter valued at $184,000. Bank of New York Mellon Corp bought a new stake in OnKure Therapeutics during the second quarter worth about $329,000. Affinity Asset Advisors LLC bought a new stake in OnKure Therapeutics during the first quarter worth about $998,000. DV Trading LLC purchased a new position in shares of OnKure Therapeutics in the 1st quarter worth about $998,000. Finally, Seven Fleet Capital Management LP purchased a new position in shares of OnKure Therapeutics in the 2nd quarter worth about $1,099,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

OnKure Therapeutics Company Profile

OnKure Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for cancer. The company’s research is centered on small-molecule therapies designed to target cancer-driving transcription factors and related proteins that are difficult to address with conventional drug approaches.

Its lead product candidate, OKN4395, is an oral small-molecule inhibitor of the EP300/CBP bromodomains. The program is being investigated as a potential treatment for solid tumors, including in combination with immune checkpoint inhibitors such as pembrolizumab.