Kinnate Biopharma (NASDAQ:KNTE) Price Target Cut to $29.00 by Analysts at Wedbush

Kinnate Biopharma (NASDAQ:KNTEGet Rating) had its target price decreased by Wedbush to $29.00 in a report issued on Wednesday morning, Stock Target Advisor reports.

Separately, HC Wainwright began coverage on shares of Kinnate Biopharma in a report on Thursday, July 28th. They set a buy rating and a $33.00 price target for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $26.40.

Kinnate Biopharma Stock Performance

Kinnate Biopharma stock opened at $8.87 on Wednesday. Kinnate Biopharma has a 52-week low of $5.75 and a 52-week high of $22.38. The firm has a 50 day moving average price of $10.19 and a two-hundred day moving average price of $11.08. The firm has a market cap of $391.79 million, a price-to-earnings ratio of -3.51 and a beta of -0.33.

Institutional Trading of Kinnate Biopharma

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SNC bought a new stake in shares of Kinnate Biopharma in the 3rd quarter valued at $111,000. State Street Corp increased its stake in shares of Kinnate Biopharma by 3.1% in the 3rd quarter. State Street Corp now owns 466,521 shares of the company’s stock valued at $5,575,000 after acquiring an additional 14,243 shares in the last quarter. Two Sigma Investments LP bought a new stake in Kinnate Biopharma during the 3rd quarter valued at $123,000. Trexquant Investment LP increased its stake in Kinnate Biopharma by 79.7% during the 3rd quarter. Trexquant Investment LP now owns 24,117 shares of the company’s stock valued at $288,000 after purchasing an additional 10,697 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Kinnate Biopharma by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,011,347 shares of the company’s stock valued at $12,085,000 after purchasing an additional 15,270 shares in the last quarter. Institutional investors own 97.74% of the company’s stock.

About Kinnate Biopharma

(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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