OnKure Therapeutics (NASDAQ:OKUR) Announces Earnings Results

OnKure Therapeutics (NASDAQ:OKUR) announced its earnings results on Tuesday. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.23, Zacks reports.

OnKure Therapeutics Trading Down 3.1%

OnKure Therapeutics stock traded down $0.13 during midday trading on Thursday, reaching $4.03. The company’s stock had a trading volume of 37,525 shares, compared to its average volume of 262,032. The stock has a market cap of $162.79 million, a PE ratio of -1.15 and a beta of 0.29. OnKure Therapeutics has a 52 week low of $1.91 and a 52 week high of $5.38. The business has a 50-day moving average price of $4.26 and a 200-day moving average price of $3.82.

Analyst Ratings Changes

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

Institutional Investors Weigh In On OnKure Therapeutics

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

About OnKure Therapeutics

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.