Kinnate Biopharma Inc. (NASDAQ:KNTE) Receives Average Rating of “Hold” from Analysts

Kinnate Biopharma Inc. (NASDAQ:KNTE) has been given an average recommendation of “Hold” by the five research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.15.

Several brokerages recently issued reports on KNTE. William Blair downgraded Kinnate Biopharma from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Stifel Nicolaus raised their price target on Kinnate Biopharma to $2.59 and gave the stock a “hold” rating in a research note on Monday, February 26th. Finally, Wedbush reaffirmed a “neutral” rating and set a $2.00 price target on shares of Kinnate Biopharma in a research note on Wednesday, January 17th.

Kinnate Biopharma Stock Down 0.4 %

NASDAQ:KNTE opened at $2.65 on Friday. Kinnate Biopharma has a 1-year low of $1.04 and a 1-year high of $7.18. The firm has a market capitalization of $125.13 million, a price-to-earnings ratio of -0.95 and a beta of 1.38. The stock has a fifty day simple moving average of $2.60 and a 200 day simple moving average of $2.26.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Citigroup Inc. grew its holdings in Kinnate Biopharma by 53,138.6% in the 3rd quarter. Citigroup Inc. now owns 420,585 shares of the company’s stock valued at $589,000 after buying an additional 419,795 shares during the last quarter. Acuitas Investments LLC acquired a new stake in Kinnate Biopharma in the 4th quarter valued at approximately $687,000. Acadian Asset Management LLC grew its holdings in Kinnate Biopharma by 71.0% in the 3rd quarter. Acadian Asset Management LLC now owns 736,686 shares of the company’s stock valued at $1,030,000 after buying an additional 305,884 shares during the last quarter. Pale Fire Capital SE grew its holdings in Kinnate Biopharma by 196.3% in the 3rd quarter. Pale Fire Capital SE now owns 70,174 shares of the company’s stock valued at $98,000 after buying an additional 46,492 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in Kinnate Biopharma in the 4th quarter valued at approximately $142,000. 80.89% of the stock is owned by institutional investors.

Kinnate Biopharma Company Profile

Kinnate Biopharma Inc, a clinical-stage oncology company, focuses on the discovery and development of small molecule kinase inhibitors to treat genomically defined cancers in the United States. The company develops KIN-2787, a rapidly accelerated fibrosarcoma inhibitor for the treatment of patients with lung cancer, melanoma, and other solid tumors; KIN-3248 small-molecule kinase inhibitors that target cancer-associated alterations in fibroblast growth factor receptors FGFR2 and FGFR3 genes; and small molecule research programs, including Cyclin-Dependent Kinase 12(CDK12) inhibitor in its KIN004 program.