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On April 4 and April 7, Jason A. Leverone, Chief Financial Officer of OnKure Therapeutics, Inc. (NASDAQ:OKUR), a clinical-stage company with a market capitalization of $41 million, sold a total of 3,122 shares of the company's Class A Common Stock. The transaction comes as the stock trades near its 52-week low of $2.57, having declined over 83% in the past year. The transactions were executed at prices ranging between $2.671 and $3.3276 per share, amounting to a total value of $9,177.
These sales were conducted to cover tax withholding obligations related to the vesting of restricted stock units under the company's 2023 RSU Equity Incentive Plan. Following these transactions, Leverone owns 13,209 shares directly. According to InvestingPro, OnKure maintains a strong liquidity position with a current ratio of 10.73, and holds more cash than debt on its balance sheet. For deeper insights into insider trading patterns and 14 additional ProTips, consider exploring InvestingPro.
In other recent news, OnKure Therapeutics Inc. has been the focus of analyst attention following updates on its clinical developments. H.C. Wainwright analyst Robert Burns adjusted the company's price target to $34.00 from a previous $40.00, maintaining a Buy rating. This adjustment comes after OnKure presented initial results for its lead candidate, OKI-219, a PI3Kα inhibitor in Phase 1 trials for solid tumors. Despite the absence of objective responses at a 900mg dose level, the drug was well-tolerated with no significant adverse events reported.
Additionally, Jones Trading initiated coverage on OnKure Therapeutics with a Buy rating and set a price target of $32.00. The firm highlighted OnKure's focus on developing targeted therapies for breast cancer and other solid tumors with specific gene mutations. The recent acquisition of Scorpion Therapeutics by Lilly has intensified interest in the PI3Kα inhibitor space, underscoring the potential of OnKure's strategic approach. Investors are advised to monitor OnKure's progress as it continues its clinical trials and advances its research in precision oncology.
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