Suvretta Capital Management LLC recently announced the acquisition of new stake in Kura Oncology Inc (NASDAQ:KURA). The institutional investor has increased its shareholding in the Healthcare company by 4.37% to 7.34 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 9.88% valued currently at $61.99 million. In addition, BlackRock Fund Advisors raised its holdings by 0.6 million to 5.57 million shares. And The Vanguard Group, Inc. has lifted its position by 7.62% or 0.27 million shares – to 3.86 million shares.
With over 3.45 million Kura Oncology Inc (KURA) shares trading Tuesday and a closing price of $11.13 on the day, the dollar volume was approximately $38.4 million. The shares have shown a negative half year performance of -12.50% and its price on 12/12/23 gained nearly 3.82%. Currently, there are 68.31M common shares owned by the public and among those 65.81M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for KURA have a consensus price objective of $28.05. The analysts have set the share’s price value over the next 12 months at a high of $37.00 and a low of $10.50. The average price target is 60.32% above its recent price level and a downside to the estimated low will see the stock lose -6.0% over that period. But an upside of 69.92% will see the stock hit the forecast high price target while median target price for the stock is $31.00.
Insiders at the company have transacted a total of 18 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 415,269 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 904,678 shares.
The top 3 mutual fund holders in Kura Oncology Inc are Vanguard Total Stock Market ETF, SPDR S&P Biotech ETF, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 2.21 million shares of the company’s stock, all valued at over $18.65 million. The company bought an additional 11800.0 shares recently to bring their total holdings to about 2.97% of the shares outstanding. SPDR S&P Biotech ETF bought 12027.0 shares to see its total holdings expand to 2.01 million shares valued at over $17.01 million and representing 2.71% of the shares outstanding. iShares Russell 2000 ETF sold 16579.0 shares to bring its total holdings to over 1.65 million shares at a value of $13.95 million. iShares Russell 2000 ETF now owns shares totaling to 2.22% of the shares outstanding.
Shares of Kura Oncology Inc (NASDAQ: KURA) opened at $10.66, down -$0.06 from a prior closing price of $10.72. However, the script later moved the day high at 11.49, up 3.82%. The company’s stock has a 5-day price change of 3.06% and 14.15% over the past three months. KURA shares are trading -10.31% year to date (YTD), with the 12-month market performance down to -26.34% lower. It has a 12-month low price of $7.41 and touched a high of $15.06 over the same period. KURA has an average intraday trading volume of 811.50K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.28%, 23.30%, and 5.09% respectively.
Institutional ownership of Kura Oncology Inc (NASDAQ: KURA) shares accounts for 91.47% of the company’s 68.31M shares outstanding. Mutual fund holders own 25.49%, while other institutional holders and individual stakeholders account for 66.06% and 10.15% respectively.
It has a market capitalization of $826.63M and a beta (3y monthly) value of 0.78. The earnings-per-share (ttm) stands at -$2.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.23% over the week and 5.88% over the month.
Analysts forecast that Kura Oncology Inc (KURA) will achieve an EPS of -$0.55 for the current quarter, -$0.54 for the next quarter and -$2.27 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.68 while analysts give the company a high EPS estimate of -$0.49. Comparatively, EPS for the current quarter was -$0.49 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.50%, and -8.47% over the next financial year. EPS should grow at an annualized rate of 19.93% over the next five years, compared to -5.93% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Kura Oncology Inc (KURA) as a “Strong Buy” at a consensus score of 1.23. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 1 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the KURA, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on August 11, 2023, with the firm’s price target at $31.
