OnKure Therapeutics (NASDAQ:OKUR) Stock Price Up 7.1% – Here’s Why

OnKure Therapeutics, Inc. (NASDAQ:OKUR) shot up 7.1% during trading on Monday. The company traded as high as $2.26 and last traded at $2.25. 501,451 shares traded hands during mid-day trading, an increase of 14% from the average session volume of 441,327 shares. The stock had previously closed at $2.10.

Analyst Ratings Changes

Several research firms have recently commented on OKUR. Oppenheimer reiterated an “outperform” rating and issued a $14.00 price target on shares of OnKure Therapeutics in a research report on Friday, August 14th. Weiss Ratings cut shares of OnKure Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th. Finally, HC Wainwright cut their price objective on OnKure Therapeutics to $21.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.50.

OnKure Therapeutics Stock Down 2.5%

The company has a market cap of $92.91 million, a PE ratio of -0.66 and a beta of 0.12. The stock’s 50 day simple moving average is $3.13 and its two-hundred day simple moving average is $3.86.

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

Institutional Investors Weigh In On OnKure Therapeutics

A number of hedge funds have recently bought and sold shares of OKUR. Vivo Capital LLC acquired a new position in OnKure Therapeutics during the 1st quarter worth $7,981,000. ADAR1 Capital Management LLC increased its position in shares of OnKure Therapeutics by 140.1% in the 1st quarter. ADAR1 Capital Management LLC now owns 2,434,941 shares of the company’s stock worth $10,081,000 after purchasing an additional 1,420,783 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of OnKure Therapeutics in the 1st quarter valued at about $998,000. Seven Fleet Capital Management LP bought a new position in shares of OnKure Therapeutics during the second quarter worth about $1,099,000. Finally, DV Trading LLC bought a new position in shares of OnKure Therapeutics during the first quarter worth about $998,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

About OnKure Therapeutics

OnKure Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for the treatment of cancer. The company’s research is centered on small-molecule therapies intended to target biological pathways that contribute to tumor growth and immune suppression.

OnKure’s lead investigational product is OKN4395, an orally administered EP2 receptor antagonist designed to help restore anti-tumor immune activity within the tumor microenvironment. The company has been evaluating OKN4395 in combination with pembrolizumab, an immune checkpoint inhibitor, for patients with advanced solid tumors.