Tang Capital Management LLC Purchases New Shares in OnKure Therapeutics (NASDAQ:OKUR)

Tang Capital Management LLC purchased a new stake in OnKure Therapeutics (NASDAQ:OKUR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 294,626 shares of the company’s stock, valued at approximately $2,534,000. Tang Capital Management LLC owned about 0.09% of OnKure Therapeutics as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Barclays PLC bought a new position in shares of OnKure Therapeutics in the fourth quarter valued at about $75,000. OMERS ADMINISTRATION Corp bought a new position in shares of OnKure Therapeutics in the fourth quarter valued at about $104,000. Walleye Capital LLC bought a new position in shares of OnKure Therapeutics in the fourth quarter valued at about $116,000. Shay Capital LLC acquired a new stake in OnKure Therapeutics in the fourth quarter worth about $129,000. Finally, XTX Topco Ltd acquired a new stake in OnKure Therapeutics in the fourth quarter worth about $160,000. 90.98% of the stock is owned by institutional investors.

OnKure Therapeutics Trading Down 2.9%

OnKure Therapeutics stock opened at $2.00 on Friday. The firm has a market capitalization of $26.87 million, a P/E ratio of -0.16 and a beta of 0.40. OnKure Therapeutics has a 1 year low of $1.70 and a 1 year high of $20.00. The business has a 50-day moving average of $3.29 and a 200-day moving average of $7.34.

OnKure Therapeutics (NASDAQ:OKUR) last posted its earnings results on Tuesday, May 6th. The company reported ($1.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.41) by $0.22. Research analysts anticipate that OnKure Therapeutics will post -4.05 EPS for the current fiscal year.

Insider Transactions at OnKure Therapeutics

In related news, major shareholder Cormorant Asset Management, Lp sold 24,300 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1.99, for a total value of $48,357.00. Following the completion of the transaction, the insider now directly owns 1,813,439 shares in the company, valued at approximately $3,608,743.61. The trade was a 1.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 28,296 shares of company stock worth $60,106. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

OKUR has been the subject of a number of research reports. Oppenheimer lowered their price objective on OnKure Therapeutics from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Evercore ISI initiated coverage on OnKure Therapeutics in a research report on Wednesday, April 30th. They issued an “outperform” rating for the company. Finally, HC Wainwright lowered their price objective on OnKure Therapeutics from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $32.33.

About OnKure Therapeutics

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.