OnKure Therapeutics (NASDAQ:OKUR) Stock Falls 4.8% – Time to Sell?

by · The Markets Daily

Shares of OnKure Therapeutics, Inc. (NASDAQ:OKUR – Get Free Report) were down 4.8% during mid-day trading on Monday. The stock traded as low as $2.60 and last traded at $2.76. Approximately 442,229 shares were traded during mid-day trading, an increase of 209% from the average session volume of 142,954 shares. The stock had previously closed at $2.90.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. HC Wainwright lowered their target price on shares of OnKure Therapeutics to $21.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $14.00 price target on shares of OnKure Therapeutics in a research report on Friday, August 14th. Wall Street Zen upgraded OnKure Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings upgraded OnKure Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 21st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.50.

Check Out Our Latest Stock Report on OKUR

OnKure Therapeutics Stock Down 4.8%

The company has a market cap of $111.50 million, a P/E ratio of -0.79 and a beta of 0.23. The stock’s 50-day moving average price is $3.67 and its 200 day moving average price is $4.04.

OnKure Therapeutics (NASDAQ:OKUR – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.23. Analysts expect that OnKure Therapeutics, Inc. will post -1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. ADAR1 Capital Management LLC lifted its position in OnKure Therapeutics by 140.1% during the 1st quarter. ADAR1 Capital Management LLC now owns 2,434,941 shares of the company’s stock worth $10,081,000 after acquiring an additional 1,420,783 shares during the last quarter. Vivo Capital LLC acquired a new stake in shares of OnKure Therapeutics in the first quarter valued at about $7,981,000. Renaissance Technologies LLC increased its stake in shares of OnKure Therapeutics by 52.5% in the first quarter. Renaissance Technologies LLC now owns 377,250 shares of the company’s stock worth $1,562,000 after purchasing an additional 129,900 shares during the period. DV Trading LLC bought a new position in shares of OnKure Therapeutics in the first quarter worth about $998,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of OnKure Therapeutics during the 1st quarter worth about $998,000. Institutional investors own 90.98% of the company’s stock.

About OnKure Therapeutics

(Get Free Report)

OnKure Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for cancer. The company is working to discover and advance small-molecule therapies designed to target biological pathways involved in tumor growth and the suppression of antitumor immune responses.

Its lead investigational product candidate, OKN4395, is an orally administered small-molecule antagonist of the EP4 receptor, which is associated with tumor-promoting inflammation and immune suppression.

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