OnKure Therapeutics (NASDAQ:OKUR) Trading Up 1.3% – Still a Buy?

OnKure Therapeutics, Inc. (NASDAQ:OKUR)’s share price was up 1.3% during mid-day trading on Tuesday . The company traded as high as $4.70 and last traded at $4.56. Approximately 347,142 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 564,816 shares. The stock had previously closed at $4.50.

Wall Street Analyst Weigh In

OKUR has been the topic of a number of recent research reports. HC Wainwright lowered their price target on shares of OnKure Therapeutics from $34.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Wall Street Zen raised shares of OnKure Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. JonesTrading lowered shares of OnKure Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised shares of OnKure Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.00.

OnKure Therapeutics Stock Performance

The company has a market capitalization of $184.22 million, a price-to-earnings ratio of -1.05 and a beta of 0.28. The firm has a fifty day moving average price of $4.24 and a 200-day moving average price of $3.60.

OnKure Therapeutics (NASDAQ:OKUR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.37). On average, sell-side analysts forecast that OnKure Therapeutics, Inc. will post -3.19 EPS for the current fiscal year.

Hedge Funds Weigh In On OnKure Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in OKUR. DV Trading LLC bought a new stake in shares of OnKure Therapeutics during the 1st quarter worth approximately $998,000. NewEdge Advisors LLC acquired a new stake in shares of OnKure Therapeutics during the 1st quarter worth approximately $184,000. Vivo Capital LLC bought a new position in OnKure Therapeutics in the first quarter valued at approximately $7,981,000. ADAR1 Capital Management LLC increased its stake in OnKure Therapeutics by 140.1% in the first 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 during the last quarter. Finally, Affinity Asset Advisors LLC bought a new position in OnKure Therapeutics in the first quarter valued at approximately $998,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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.