Kinnate Biopharma Inc. (NASDAQ:KNTE) Given Average Recommendation of “Hold” by Analysts

Shares of Kinnate Biopharma Inc. (NASDAQ:KNTE) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.15.

KNTE has been the topic of a number of recent research reports. Wedbush restated a “neutral” rating and set a $2.00 price objective on shares of Kinnate Biopharma in a research note on Wednesday, January 17th. William Blair cut Kinnate Biopharma from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus boosted their price objective on Kinnate Biopharma to $2.59 and gave the stock a “hold” rating in a research note on Monday, February 26th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Citigroup Inc. lifted its stake in shares of Kinnate Biopharma by 53,138.6% in the third quarter. Citigroup Inc. now owns 420,585 shares of the company’s stock worth $589,000 after acquiring an additional 419,795 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Kinnate Biopharma by 71.0% in the third quarter. Acadian Asset Management LLC now owns 736,686 shares of the company’s stock worth $1,030,000 after acquiring an additional 305,884 shares in the last quarter. Pale Fire Capital SE lifted its stake in shares of Kinnate Biopharma by 196.3% in the third quarter. Pale Fire Capital SE now owns 70,174 shares of the company’s stock worth $98,000 after acquiring an additional 46,492 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Kinnate Biopharma in the third quarter worth about $73,000. Finally, BML Capital Management LLC acquired a new position in shares of Kinnate Biopharma in the fourth quarter worth about $1,059,000. Institutional investors and hedge funds own 80.89% of the company’s stock.

Kinnate Biopharma Price Performance

Shares of KNTE opened at $2.65 on Friday. The stock’s 50-day moving average is $2.60 and its two-hundred day moving average is $2.23. The stock has a market cap of $125.13 million, a PE ratio of -0.95 and a beta of 1.38. Kinnate Biopharma has a 12 month low of $1.04 and a 12 month high of $7.18.

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.