Kinnate Biopharma (NASDAQ:KNTE) PT Lowered to $24.00

Kinnate Biopharma (NASDAQ:KNTE – Get Rating) had its target price lowered by investment analysts at HC Wainwright from $25.00 to $24.00 in a report issued on Thursday, The Fly reports.

Several other research firms have also issued reports on KNTE. Wedbush reduced their target price on Kinnate Biopharma from $25.00 to $14.00 in a report on Tuesday, April 18th. The Goldman Sachs Group reduced their target price on Kinnate Biopharma from $29.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Finally, Stifel Nicolaus reduced their target price on Kinnate Biopharma from $8.00 to $5.00 in a report on Tuesday, April 18th.

Kinnate Biopharma Stock Up 8.7 %

Shares of Kinnate Biopharma stock opened at $4.00 on Thursday. The company has a market cap of $186.28 million, a PE ratio of -1.44 and a beta of 0.22. Kinnate Biopharma has a 52 week low of $2.32 and a 52 week high of $15.86. The business has a 50 day moving average price of $4.53 and a 200-day moving average price of $6.02.

Kinnate Biopharma (NASDAQ:KNTE – Get Rating) last issued its quarterly earnings data on Thursday, May 11th. The company reported ($0.73) EPS for the quarter, hitting the consensus estimate of ($0.73). As a group, research analysts anticipate that Kinnate Biopharma will post -3.03 EPS for the current year.

Insider Buying and Selling at Kinnate Biopharma

In other news, Director Carl L. Gordon acquired 716,157 shares of Kinnate Biopharma stock in a transaction on Monday, May 1st. The stock was acquired at an average cost of $2.62 per share, with a total value of $1,876,331.34. Following the completion of the acquisition, the director now owns 4,204,852 shares in the company, valued at $11,016,712.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Orbimed Advisors Llc purchased 479,909 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was purchased at an average cost of $2.75 per share, with a total value of $1,319,749.75. Following the completion of the acquisition, the director now directly owns 4,738,453 shares of the company’s stock, valued at $13,030,745.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carl L. Gordon purchased 716,157 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was bought at an average cost of $2.62 per share, with a total value of $1,876,331.34. Following the completion of the acquisition, the director now directly owns 4,204,852 shares of the company’s stock, valued at $11,016,712.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,326,815 shares of company stock valued at $9,074,491. Company insiders own 37.90% of the company’s stock.

Hedge Funds Weigh In On Kinnate Biopharma

A number of large investors have recently made changes to their positions in KNTE. JPMorgan Chase & Co. raised its position in shares of Kinnate Biopharma by 20.7% in the first quarter. JPMorgan Chase & Co. now owns 21,870 shares of the company’s stock worth $246,000 after buying an additional 3,756 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Kinnate Biopharma by 57.0% in the first quarter. MetLife Investment Management LLC now owns 15,585 shares of the company’s stock worth $175,000 after buying an additional 5,658 shares in the last quarter. Rhumbline Advisers raised its position in shares of Kinnate Biopharma by 6.0% in the first quarter. Rhumbline Advisers now owns 32,079 shares of the company’s stock worth $361,000 after buying an additional 1,809 shares in the last quarter. BlackRock Inc. raised its position in shares of Kinnate Biopharma by 0.4% in the first quarter. BlackRock Inc. now owns 2,055,224 shares of the company’s stock worth $23,143,000 after buying an additional 8,189 shares in the last quarter. Finally, Ergoteles LLC purchased a new stake in shares of Kinnate Biopharma in the first quarter worth $215,000. 98.68% of the stock is owned by institutional investors.

About Kinnate Biopharma

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Kinnate Biopharma Inc, a biopharmaceutical 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.