Equities Analysts Issue Forecasts for Kinnate Biopharma Inc.’s FY2024 Earnings (NASDAQ:KNTE)

Kinnate Biopharma Inc. (NASDAQ:KNTE – Get Rating) – Investment analysts at William Blair issued their FY2024 earnings per share (EPS) estimates for Kinnate Biopharma in a report released on Thursday, March 16th. William Blair analyst T. Lugo anticipates that the company will post earnings per share of ($3.66) for the year. The consensus estimate for Kinnate Biopharma’s current full-year earnings is ($3.09) per share.

Kinnate Biopharma (NASDAQ:KNTE – Get Rating) last posted its quarterly earnings results on Wednesday, March 15th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.02).

A number of other equities research analysts also recently issued reports on the company. Wedbush lowered their price objective on Kinnate Biopharma from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday. Stifel Nicolaus lowered their price target on Kinnate Biopharma from $11.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Kinnate Biopharma Stock Performance

Shares of KNTE stock opened at $5.42 on Friday. Kinnate Biopharma has a 52-week low of $3.30 and a 52-week high of $15.86. The company has a market capitalization of $239.40 million, a PE ratio of -2.14 and a beta of 0.20. The business’s fifty day moving average is $6.17 and its 200 day moving average is $8.18.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in shares of Kinnate Biopharma in the first quarter worth about $27,000. Principal Financial Group Inc. purchased a new position in shares of Kinnate Biopharma in the fourth quarter worth about $62,000. Jane Street Group LLC purchased a new position in shares of Kinnate Biopharma in the fourth quarter worth about $77,000. Alliancebernstein L.P. purchased a new position in shares of Kinnate Biopharma in the fourth quarter worth about $81,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Kinnate Biopharma by 263.6% in the third quarter. Tower Research Capital LLC TRC now owns 6,926 shares of the company’s stock worth $83,000 after buying an additional 5,021 shares during the period. Hedge funds and other institutional investors own 98.68% of the company’s stock.

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.