Short Interest in OnKure Therapeutics, Inc. (NASDAQ:OKUR) Increases By 92.9%

OnKure Therapeutics, Inc. (NASDAQ:OKUR) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 199,392 shares, an increase of 92.9% from the April 30th total of 103,370 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 142,174 shares, the days-to-cover ratio is presently 1.4 days.

OnKure Therapeutics Price Performance

Shares of NASDAQ:OKUR opened at $4.20 on Tuesday. The company has a market cap of $169.68 million, a P/E ratio of -0.97 and a beta of 0.28. OnKure Therapeutics has a 52 week low of $1.91 and a 52 week high of $5.38. The company has a 50-day moving average price of $4.23 and a 200 day moving average price of $3.39.

OnKure Therapeutics (NASDAQ:OKUR) last issued its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.37). Analysts expect that OnKure Therapeutics will post -2.84 EPS for the current year.

Institutional Trading of OnKure Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vivo Capital LLC acquired a new position in shares of OnKure Therapeutics in the 1st quarter valued at $7,981,000. NewEdge Advisors LLC acquired a new position in shares of OnKure Therapeutics during the 1st quarter valued at $184,000. ADAR1 Capital Management LLC lifted its holdings in shares of OnKure Therapeutics by 140.1% during the 1st quarter. ADAR1 Capital Management LLC now owns 2,434,941 shares of the company’s stock valued at $10,081,000 after acquiring an additional 1,420,783 shares in the last quarter. Affinity Asset Advisors LLC acquired a new position in shares of OnKure Therapeutics during the 1st quarter valued at $998,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of OnKure Therapeutics by 52.5% during the 1st quarter. Renaissance Technologies LLC now owns 377,250 shares of the company’s stock valued at $1,562,000 after acquiring an additional 129,900 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OKUR. Weiss Ratings raised shares of OnKure Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. Wall Street Zen lowered OnKure Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright cut their price objective on OnKure Therapeutics from $34.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Finally, JonesTrading lowered OnKure Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, OnKure Therapeutics presently has a consensus rating of “Hold” and an average target price of $27.00.

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.