Kinnate Biopharma (NASDAQ:KNTE) PT Lowered to $8.00 at Stifel Nicolaus

Kinnate Biopharma (NASDAQ:KNTE – Get Rating) had its price target decreased by analysts at Stifel Nicolaus from $11.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 47.60% from the company’s previous close.

Separately, Wedbush dropped their price target on shares of Kinnate Biopharma to $29.00 in a research report on Wednesday, November 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Kinnate Biopharma Price Performance

Shares of NASDAQ KNTE opened at $5.42 on Thursday. The stock has a market capitalization of $239.40 million, a P/E ratio of -2.14 and a beta of 0.20. The company has a 50-day moving average price of $6.17 and a 200-day moving average price of $8.18. Kinnate Biopharma has a 1 year low of $3.30 and a 1 year high of $15.86.

Kinnate Biopharma (NASDAQ:KNTE – Get Rating) last released its quarterly earnings results on Wednesday, March 15th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.02). As a group, equities research analysts anticipate that Kinnate Biopharma will post -3.09 earnings per share for the current fiscal year.

Institutional Trading of Kinnate Biopharma

Several hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. bought a new stake in Kinnate Biopharma in the fourth quarter worth about $81,000. Jane Street Group LLC bought a new stake in Kinnate Biopharma in the fourth quarter worth about $77,000. SVB Financial Group bought a new stake in Kinnate Biopharma in the fourth quarter worth about $143,000. Squarepoint Ops LLC bought a new stake in Kinnate Biopharma in the fourth quarter worth about $153,000. Finally, Marshall Wace LLP raised its position in Kinnate Biopharma by 30.5% in the fourth quarter. Marshall Wace LLP now owns 14,944 shares of the company’s stock worth $91,000 after acquiring an additional 3,492 shares during the period. 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.