Kinnate Biopharma Inc. (NASDAQ:KNTE) Short Interest Up 7.0% in February

Kinnate Biopharma Inc. (NASDAQ:KNTE – Get Rating) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,680,000 shares, an increase of 7.0% from the February 13th total of 1,570,000 shares. Currently, 7.8% of the shares of the company are short sold. Based on an average daily trading volume, of 118,700 shares, the days-to-cover ratio is currently 14.2 days.

Institutional Investors Weigh In On Kinnate Biopharma

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings in shares of Kinnate Biopharma by 51.9% in the 2nd quarter. FMR LLC now owns 2,193,316 shares of the company’s stock valued at $27,658,000 after buying an additional 749,012 shares during the period. BlackRock Inc. raised its stake in Kinnate Biopharma by 0.4% during the 1st quarter. BlackRock Inc. now owns 2,055,224 shares of the company’s stock valued at $23,143,000 after acquiring an additional 8,189 shares during the last quarter. Vanguard Group Inc. raised 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 acquiring an additional 15,270 shares during the last quarter. Novo Holdings A S raised its stake in shares of 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 buying an additional 71,108 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Kinnate Biopharma by 3.1% during the 3rd quarter. State Street Corp now owns 466,521 shares of the company’s stock worth $5,575,000 after buying an additional 14,243 shares in the last quarter. 98.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on KNTE. Stifel Nicolaus lowered shares of Kinnate Biopharma from a “buy” rating to a “hold” rating and reduced their target price for the stock from $35.00 to $11.00 in a report on Thursday, November 17th. Wedbush reduced their target price on Kinnate Biopharma to $29.00 in a research note on Wednesday, November 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kinnate Biopharma presently has an average rating of “Moderate Buy” and a consensus target price of $26.40.

Kinnate Biopharma Trading Up 4.0 %

Shares of KNTE stock opened at $4.67 on Thursday. The stock has a market cap of $206.25 million, a P/E ratio of -1.85 and a beta of 0.20. Kinnate Biopharma has a twelve month low of $3.30 and a twelve month high of $15.86. The stock has a 50 day moving average of $6.20 and a 200 day moving average of $8.26.

About Kinnate Biopharma

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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.