Foresite Capital Opportunity Management V LLC Buys New Stake in Kinnate Biopharma Inc. (NASDAQ:KNTE)

Foresite Capital Opportunity Management V LLC acquired a new stake in Kinnate Biopharma Inc. (NASDAQ:KNTEGet Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 291,667 shares of the company’s stock, valued at approximately $5,168,000. Kinnate Biopharma makes up about 3.5% of Foresite Capital Opportunity Management V LLC’s portfolio, making the stock its 7th largest position. Foresite Capital Opportunity Management V LLC owned 0.67% of Kinnate Biopharma as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in Kinnate Biopharma in the third quarter valued at about $43,000. Royal Bank of Canada increased its holdings in Kinnate Biopharma by 82.1% in the third quarter. Royal Bank of Canada now owns 3,663 shares of the company’s stock valued at $85,000 after buying an additional 1,651 shares in the last quarter. Citigroup Inc. increased its holdings in Kinnate Biopharma by 170.7% in the third quarter. Citigroup Inc. now owns 3,798 shares of the company’s stock valued at $87,000 after buying an additional 2,395 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Kinnate Biopharma in the third quarter valued at about $169,000. Finally, Metropolitan Life Insurance Co NY purchased a new position in Kinnate Biopharma in the third quarter valued at about $173,000. Institutional investors and hedge funds own 96.39% of the company’s stock.

In other Kinnate Biopharma news, insider Richard Thomas Williams bought 15,000 shares of Kinnate Biopharma stock in a transaction that occurred on Friday, March 11th. The shares were acquired at an average price of $8.64 per share, for a total transaction of $129,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 44.20% of the company’s stock.

KNTE has been the subject of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $35.00 target price on shares of Kinnate Biopharma in a report on Friday, February 11th. Piper Sandler decreased their target price on shares of Kinnate Biopharma from $52.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of Kinnate Biopharma from a “sell” rating to a “hold” rating in a research report on Wednesday, March 30th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kinnate Biopharma has an average rating of “Buy” and an average price target of $38.75.

Shares of KNTE traded up $0.14 during mid-day trading on Thursday, reaching $10.10. The company had a trading volume of 9,475 shares, compared to its average volume of 147,973. The stock has a market cap of $444.10 million, a price-to-earnings ratio of -4.51 and a beta of 2.51. The firm has a fifty day simple moving average of $9.47 and a 200-day simple moving average of $13.42. Kinnate Biopharma Inc. has a fifty-two week low of $7.29 and a fifty-two week high of $26.05.

Kinnate Biopharma (NASDAQ:KNTEGet Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.61) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.61). On average, equities research analysts expect that Kinnate Biopharma Inc. will post -2.55 EPS for the current fiscal year.

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

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