OnKure Therapeutics (NASDAQ:OKUR) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

OnKure Therapeutics, Inc. (NASDAQ:OKUR) shares passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $2.78 and traded as high as $2.88. OnKure Therapeutics shares last traded at $2.87, with a volume of 555,818 shares changing hands.

Wall Street Analysts Forecast Growth

OKUR has been the topic of several recent research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $14.00 price target on shares of OnKure Therapeutics in a research note on Friday, August 14th. Weiss Ratings upgraded shares of OnKure Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Finally, HC Wainwright dropped their target price on shares of OnKure Therapeutics to $21.00 and set a “buy” rating for the company in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.50.

OnKure Therapeutics Price Performance

The company has a fifty day moving average of $2.78 and a 200-day moving average of $3.59. The firm has a market cap of $115.95 million, a P/E ratio of -1.04 and a beta of 0.18.

OnKure Therapeutics (NASDAQ:OKUR) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.05. On average, sell-side analysts expect that OnKure Therapeutics, Inc. will post -1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On OnKure Therapeutics

Several institutional investors have recently made changes to their positions in the company. Vivo Capital LLC bought a new position in OnKure Therapeutics in the 1st quarter worth approximately $7,981,000. Seven Fleet Capital Management LP bought a new position in shares of OnKure Therapeutics in the 2nd quarter worth about $1,099,000. Renaissance Technologies LLC boosted its holdings in 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 last quarter. ADAR1 Capital Management LLC lifted its position in shares of 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 in the last quarter. Finally, Affinity Asset Advisors LLC bought a new position in OnKure Therapeutics during the first quarter valued at $998,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

About OnKure Therapeutics

OnKure Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for cancer. The company’s research is centered on small-molecule therapies designed to target cancer-driving transcription factors and related proteins that are difficult to address with conventional drug approaches.

Its lead product candidate, OKN4395, is an oral small-molecule inhibitor of the EP300/CBP bromodomains. The program is being investigated as a potential treatment for solid tumors, including in combination with immune checkpoint inhibitors such as pembrolizumab.