OnKure Therapeutics, Inc. (NASDAQ:OKUR) Short Interest Down 85.2% in March

OnKure Therapeutics, Inc. (NASDAQ:OKUR) was the target of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 7,962 shares, a decline of 85.2% from the February 26th total of 53,751 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 214,174 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily trading volume, of 214,174 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.1% of the company’s stock are sold short.

OnKure Therapeutics Stock Performance

OKUR remained flat at $3.98 during trading on Tuesday. The company’s stock had a trading volume of 156,778 shares, compared to its average volume of 212,876. OnKure Therapeutics has a one year low of $1.70 and a one year high of $5.00. The stock’s 50-day moving average price is $2.99 and its 200 day moving average price is $2.93.

OnKure Therapeutics (NASDAQ:OKUR) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.16. On average, analysts predict that OnKure Therapeutics will post -4.05 EPS for the current fiscal year.

Institutional Investors Weigh In On OnKure Therapeutics

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in shares of OnKure Therapeutics in the second quarter worth about $25,000. Jane Street Group LLC acquired a new position in OnKure Therapeutics in the 4th quarter worth $56,000. Hsbc Holdings PLC purchased a new position in OnKure Therapeutics in the 4th quarter valued at about $58,000. Barclays PLC boosted its position in OnKure Therapeutics by 4,286.8% in the 4th quarter. Barclays PLC now owns 27,242 shares of the company’s stock valued at $79,000 after buying an additional 26,621 shares during the last quarter. Finally, Rangeley Capital LLC acquired a new stake in shares of OnKure Therapeutics during the second quarter valued at about $71,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OKUR. HC Wainwright reduced their price target on shares of OnKure Therapeutics from $34.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Weiss Ratings restated a “sell (d-)” rating on shares of OnKure Therapeutics in a research note on Monday, December 22nd. Finally, Wall Street Zen upgraded OnKure Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, OnKure Therapeutics presently has an average rating of “Hold” and a consensus target price of $27.00.

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.