Kinnate Biopharma Inc. (NASDAQ:KNTE) Receives Consensus Recommendation of “Buy” from Brokerages

Kinnate Biopharma Inc. (NASDAQ:KNTEGet Rating) has received an average recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $36.17.

KNTE has been the subject of a number of recent analyst reports. Piper Sandler cut their price objective on Kinnate Biopharma from $52.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, May 18th. HC Wainwright began coverage on Kinnate Biopharma in a report on Thursday, July 28th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, The Goldman Sachs Group cut their price target on Kinnate Biopharma from $44.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th.

Kinnate Biopharma Stock Performance

NASDAQ KNTE opened at $9.86 on Tuesday. The company has a market capitalization of $433.59 million, a P/E ratio of -4.34 and a beta of 0.10. Kinnate Biopharma has a one year low of $7.18 and a one year high of $26.05. The stock has a 50 day moving average price of $10.76 and a 200-day moving average price of $10.12.

Kinnate Biopharma (NASDAQ:KNTEGet Rating) last released its earnings results on Thursday, May 12th. The company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.01. As a group, equities analysts predict that Kinnate Biopharma will post -2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KNTE. Russell Investments Group Ltd. increased its position in shares of Kinnate Biopharma by 147.5% during the fourth quarter. Russell Investments Group Ltd. now owns 55,568 shares of the company’s stock worth $984,000 after acquiring an additional 33,113 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Kinnate Biopharma by 78.6% during the fourth quarter. New York State Common Retirement Fund now owns 18,817 shares of the company’s stock worth $333,000 after buying an additional 8,279 shares during the period. American Century Companies Inc. boosted its position in shares of Kinnate Biopharma by 22.9% during the fourth quarter. American Century Companies Inc. now owns 213,645 shares of the company’s stock worth $3,785,000 after buying an additional 39,855 shares during the period. Victory Capital Management Inc. lifted its position in Kinnate Biopharma by 21.9% in the fourth quarter. Victory Capital Management Inc. now owns 116,140 shares of the company’s stock worth $2,058,000 after purchasing an additional 20,870 shares during the period. Finally, Northern Trust Corp lifted its position in Kinnate Biopharma by 1.0% in the fourth quarter. Northern Trust Corp now owns 213,537 shares of the company’s stock worth $3,784,000 after purchasing an additional 2,184 shares during the period. Institutional investors and hedge funds own 96.39% of the company’s stock.

Kinnate Biopharma Company Profile

(Get Rating)

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.

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Analyst Recommendations for Kinnate Biopharma (NASDAQ:KNTE)

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