Cubist Systematic Strategies LLC Makes New Investment in OnKure Therapeutics (NASDAQ:OKUR)

Cubist Systematic Strategies LLC bought a new position in shares of OnKure Therapeutics (NASDAQ:OKUR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,549 shares of the company’s stock, valued at approximately $177,000.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC purchased a new stake in OnKure Therapeutics during the fourth quarter worth $75,000. Walleye Capital LLC purchased a new stake in OnKure Therapeutics during the fourth quarter worth $116,000. XTX Topco Ltd purchased a new stake in OnKure Therapeutics during the fourth quarter worth $160,000. Northern Trust Corp purchased a new stake in OnKure Therapeutics during the fourth quarter worth $165,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in OnKure Therapeutics during the fourth quarter worth $294,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Cormorant Asset Management, Lp sold 24,300 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1.99, for a total transaction of $48,357.00. Following the transaction, the insider now directly owns 1,813,439 shares in the company, valued at approximately $3,608,743.61. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 28,296 shares of company stock worth $60,106. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OKUR. Evercore ISI initiated coverage on OnKure Therapeutics in a research report on Wednesday, April 30th. They set an “outperform” rating on the stock. HC Wainwright reduced their price objective on OnKure Therapeutics from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, Oppenheimer reduced their price objective on OnKure Therapeutics from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, OnKure Therapeutics presently has an average rating of “Buy” and a consensus price target of $32.33.

OnKure Therapeutics Stock Down 2.9%

Shares of NASDAQ:OKUR opened at $2.00 on Monday. OnKure Therapeutics has a 52-week low of $1.70 and a 52-week high of $20.00. The stock’s fifty day simple moving average is $3.29 and its 200-day simple moving average is $7.27. The company has a market capitalization of $26.87 million, a P/E ratio of -0.16 and a beta of 0.40.

OnKure Therapeutics (NASDAQ:OKUR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.41) by $0.22. On average, sell-side analysts anticipate that OnKure Therapeutics will post -4.05 earnings per share for the current year.

OnKure Therapeutics Profile

OnKure Therapeutics, Inc engages in discovering and developing precision medicines that target biologically validated drivers of cancers underserved by available therapies. The company uses a structure and computational chemistry driven drug design platform, committed to improving clinical outcomes for patients by building a robust pipeline of small molecule drugs designed to selectively target specific mutations thought to be key drivers of cancer.