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SAN DIEGO—Francis Burrows, Chief Scientific Officer at Kura Oncology, Inc. (NASDAQ:KURA), recently sold shares of the company’s common stock, according to a recent SEC filing. The transaction comes as the stock trades near $7.77, having declined over 62% in the past six months, according to InvestingPro data. The transactions, which took place on January 28, involved the sale of 2,166 shares at a price of $7.8719 per share, totaling approximately $17,050.
The sales were conducted to cover taxes associated with the vesting of restricted stock units (RSUs) received in previous years. After these transactions, Burrows holds 20,705 shares of Kura Oncology stock.
In other recent news, Kura Oncology has been the subject of several significant developments. The company has secured a new headquarters in San Diego, entering into a lease agreement with HCP Life Science REIT, Inc. This move will provide Kura Oncology with ample space for its principal executive offices, research and development facilities, and laboratories. The company has also seen changes in its executive team, with the departure of Chief Medical (TASE:PMCN) Officer Stephen Dale due to health challenges. In Dale’s stead, Mollie Leoni has been appointed as the new Chief Medical Officer, and Francis Burrows has taken on the role of Chief Scientific Officer.
In terms of financial updates, Kura Oncology has expanded its stock option plan, reserving an additional 1.9 million shares. This expansion is an attempt to attract top talent and expand its workforce. On the analyst front, Stifel has reduced its price target for Kura Oncology to $11.00 from $18.00 while maintaining a Hold rating. Jefferies also maintained a Buy rating but reduced the stock’s price target from $32.00 to $28.00. Meanwhile, H.C. Wainwright reaffirmed a Buy rating and raised the target price to $37.00. These updates reflect the ongoing developments within the company and its strategic efforts to strengthen its position in the pharmaceutical industry.
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