Deerfield Mgmt Cuts Kura Oncology Stake to 5.0%

TL;DR

**Deerfield Mgmt just cut its Kura Oncology stake to 5.0%, watch for potential stock reaction.**

AI Summary

Deerfield Mgmt, L.P. filed an amended SC 13G/A on February 12, 2024, indicating a change in their beneficial ownership of Kura Oncology, Inc. common stock as of December 31, 2023. They now report shared voting and dispositive power over 5,312,733 shares, representing 5.0% of Kura Oncology's outstanding common stock. This matters to investors because Deerfield, a significant institutional holder, has reduced its stake from a previously higher percentage, which could signal a shift in their outlook on Kura Oncology's future prospects.

Why It Matters

A major institutional investor reducing its stake can signal a loss of confidence or a reallocation of capital, potentially influencing other investors' perceptions of Kura Oncology.

Risk Assessment

Risk Level: medium — The reduction in a significant institutional holding could indicate a perceived increase in risk or a decrease in potential upside by a sophisticated investor.

Analyst Insight

Investors should monitor Kura Oncology's stock performance and consider the implications of a major institutional investor reducing its stake, potentially signaling a need to re-evaluate their own investment thesis or risk exposure.

Key Numbers

• 5,312,733 — Shares Beneficially Owned (The total number of Kura Oncology, Inc. common shares Deerfield Mgmt, L.P. has shared voting and dispositive power over as of December 31, 2023.)
• 5.0% — Percentage of Class (The percentage of Kura Oncology, Inc.'s common stock beneficially owned by Deerfield Mgmt, L.P. as of December 31, 2023.)
• December 31, 2023 — Date of Event (The date as of which the beneficial ownership information in the filing is reported.)

Key Players & Entities

• Deerfield Mgmt, L.P. (company) — the reporting person who filed the SC 13G/A
• Kura Oncology, Inc. (company) — the subject company whose stock is being reported
• James E Flynn (person) — the individual associated with the filing entity
• Delaware (company) — place of organization for Deerfield Mgmt, L.P.

Forward-Looking Statements

• Kura Oncology's stock price may experience short-term volatility due to the reduction in institutional ownership. (Kura Oncology, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Kura Oncology following Deerfield's reduced stake. (Institutional Investors) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• e619259_sc13ga-kura.htm (SC 13G/A) — 97KB
• 0001193805-24-000194.txt ( ) — 99KB

(a)

Item 1(a). Name of Issuer: Kura Oncology, Inc.

(b)

Item 1(b). Address of Issuer's Principal Executive Offices: 12730 High Bluff Drive, Suite 400 San Diego, CA 92130

(a)

Item 2(a). Name of Person Filing: James E. Flynn, Deerfield Mgmt, L.P., Deerfield Partners, L.P. and Deerfield Management Company, L.P.

(b)

Item 2(b). Address of Principal Business Office, or if None, Residence: James E. Flynn, Deerfield Mgmt, L.P., Deerfield Partners, L.P. and Deerfield Management Company, L.P., 345 Park Avenue South, 12th Floor, New York, NY 10010

(c)

Item 2(c). Citizenship: Deerfield Mgmt, L.P., Deerfield Management Company, L.P. and Deerfield Partners, L.P. - Delaware limited partnerships; James E. Flynn – United States citizen

(d)

Item 2(d). Title of Class of Securities: Common Stock

(e)

Item 2(e). CUSIP Number: 50127T109 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) Broker or dealer registered under Section 15 of the Exchange Act. (b) Bank as defined in Section 3(a)(6) of the Exchange Act. (c) Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) Investment company registered under Section 8 of the Investment Company Act. (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; CUSIP No. 50127T109 13G Page 7 of 9 (j) A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: ___________________________________________ Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned**: Deerfield Mgmt, L.P. - 5,312,733 shares Deerfield Management Company, L.P. - 5,312,733 shares Deerfield Partners, L.P. - 5,312,733 shares James E. Flynn – 5,312,733 shares (b) Percent of class**: Deerfield Mgmt, L.P. – 7.15% Deerfield Management Company, L.P. – 7.15% Deerfield Partners, L.P. – 7.15% James E. Flynn – 7.15% (c) Number of shares as to which such person has**: (i) Sole power to vote or to direct the vote: All Reporting Persons - 0 (ii)

View Full Filing

View this SC 13G/A filing on SEC EDGAR