State Board of Administration of Florida Retirement System Invests $243,000 in Kinnate Biopharma Inc. (NASDAQ:KNTE)

State Board of Administration of Florida Retirement System acquired a new position in Kinnate Biopharma Inc. (NASDAQ:KNTEGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,304 shares of the company’s stock, valued at approximately $243,000.

Other institutional investors have also recently made changes to their positions in the company. RA Capital Management L.P. raised its stake in Kinnate Biopharma by 18.7% during the 1st quarter. RA Capital Management L.P. now owns 4,264,144 shares of the company’s stock worth $48,014,000 after acquiring an additional 671,092 shares during the period. American Century Companies Inc. raised its stake in Kinnate Biopharma by 49.6% during the 1st quarter. American Century Companies Inc. now owns 319,527 shares of the company’s stock worth $3,598,000 after acquiring an additional 105,882 shares during the period. Novo Holdings A S raised its stake in Kinnate Biopharma by 12.9% during the 1st quarter. Novo Holdings A S now owns 624,236 shares of the company’s stock worth $7,029,000 after acquiring an additional 71,108 shares during the period. GSA Capital Partners LLP bought a new stake in Kinnate Biopharma during the 1st quarter worth approximately $531,000. Finally, State Street Corp raised its stake in Kinnate Biopharma by 8.8% during the 1st quarter. State Street Corp now owns 423,154 shares of the company’s stock worth $4,765,000 after acquiring an additional 34,224 shares during the period. Institutional investors own 97.74% of the company’s stock.

Kinnate Biopharma Stock Performance

KNTE stock opened at $8.09 on Tuesday. The firm has a fifty day moving average price of $10.19 and a 200 day moving average price of $11.10. Kinnate Biopharma Inc. has a fifty-two week low of $5.75 and a fifty-two week high of $21.68. The firm has a market cap of $357.29 million, a PE ratio of -3.37 and a beta of -0.33.

Wall Street Analyst Weigh In

KNTE has been the topic of a number of recent analyst reports. Stifel Nicolaus cut shares of Kinnate Biopharma from a “buy” rating to a “hold” rating and decreased their target price for the stock from $35.00 to $11.00 in a research note on Thursday, November 17th. HC Wainwright initiated coverage on shares of Kinnate Biopharma in a research report on Thursday, July 28th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, Wedbush reduced their price objective on shares of Kinnate Biopharma to $29.00 in a research report on Wednesday, November 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.40.

Kinnate Biopharma Profile

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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.

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Institutional Ownership by Quarter for Kinnate Biopharma (NASDAQ:KNTE)

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