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SAN DIEGO—Teresa Bair, the Chief Legal Officer of Kura Oncology, Inc. (NASDAQ:KURA), has reported selling a total of 7,281 shares of common stock in two separate transactions on January 28, according to a recent SEC filing. The shares were sold at an average price of $7.8719 each, amounting to a total value of $57,315. The transaction comes as InvestingPro data shows the stock trading below its Fair Value, with shares down over 60% in the past six months. Following these transactions, Bair holds 107,948 shares in the company. These sales were conducted to cover taxes associated with the vesting of restricted stock units. While the company maintains a strong liquidity position with a current ratio of 11.47, InvestingPro analysis reveals additional insights through its comprehensive Pro Research Report, available for over 1,400 US stocks.
In other recent news, Kura Oncology has been actively making strategic moves. The pharmaceutical company has secured a new headquarters in San Diego, providing a space for its principal executive offices, research and development facilities, and laboratories. The lease agreement, signed with HCP Life Science REIT, Inc., spans seven years and eight months.
On the executive front, Kura Oncology announced the departure of its Chief Medical (TASE:PMCN) Officer, Stephen Dale, due to personal health challenges. This led to a reshuffling of the executive team, with the appointment of Mollie Leoni as the new Chief Medical Officer, and Francis Burrows taking on the role of Chief Scientific Officer.
In addition to these changes, Kura Oncology expanded its stock option plan, reserving an additional 1.9 million shares. The move is intended to attract top talent as the company continues to advance its pipeline of targeted cancer therapies.
Analyst firms have also updated their outlook on Kura Oncology. Stifel reduced the price target to $11.00 from $18.00 while maintaining a Hold rating. On the other hand, Jefferies maintained a Buy rating but reduced the stock’s price target from $32.00 to $28.00. H.C. Wainwright reaffirmed a Buy rating and raised the target price to $37.00. These updates reflect the company’s recent developments and strategic efforts.
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