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

Kinnate Biopharma Inc. (NASDAQ:KNTE) has been assigned an average recommendation of “Hold” from the five brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $8.15.

A number of research analysts have commented on the company. William Blair downgraded Kinnate Biopharma from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Wedbush restated a “neutral” rating and issued a $2.00 price objective on shares of Kinnate Biopharma in a report on Wednesday, January 17th. Finally, Stifel Nicolaus lifted their target price on shares of Kinnate Biopharma to $2.59 and gave the company a “hold” rating in a research note on Monday, February 26th.

Kinnate Biopharma Trading Down 0.4 %

Shares of Kinnate Biopharma stock 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 company has a market cap of $125.13 million, a P/E ratio of -0.95 and a beta of 1.38. The stock has a 50-day moving average price of $2.60 and a 200 day moving average price of $2.23.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KNTE. Deltec Asset Management LLC bought a new stake in Kinnate Biopharma during the first quarter worth approximately $2,766,000. BML Capital Management LLC acquired a new stake in shares of Kinnate Biopharma in the fourth quarter worth $1,110,000. 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 buying an additional 419,795 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Kinnate Biopharma by 71.0% during the 3rd quarter. Acadian Asset Management LLC now owns 736,686 shares of the company’s stock worth $1,030,000 after buying an additional 305,884 shares during the period. Finally, Acuitas Investments LLC acquired a new position in Kinnate Biopharma in the 4th quarter valued at $687,000. Institutional investors and hedge funds own 80.89% of the company’s stock.

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.