Kinnate Biopharma (NASDAQ:KNTE) Issues Earnings Results

Kinnate Biopharma (NASDAQ:KNTE – Get Rating) announced its quarterly earnings results on Wednesday. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.02), Yahoo Finance reports.

Kinnate Biopharma Price Performance

NASDAQ:KNTE opened at $5.46 on Friday. Kinnate Biopharma has a one year low of $3.30 and a one year high of $15.86. The company has a fifty day moving average price of $6.19 and a 200 day moving average price of $8.24. The stock has a market cap of $241.17 million, a P/E ratio of -2.16 and a beta of 0.20.

Analyst Ratings Changes

Several research firms recently issued reports on KNTE. Wedbush decreased their price objective on shares of Kinnate Biopharma from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday. Stifel Nicolaus decreased their price target on shares of Kinnate Biopharma from $11.00 to $8.00 and set a “hold” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Kinnate Biopharma currently has an average rating of “Moderate Buy” and an average target price of $25.00.

Institutional Investors Weigh In On Kinnate Biopharma

A number of institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. lifted its position in shares of Kinnate Biopharma by 7.0% in the 2nd quarter. American International Group Inc. now owns 13,677 shares of the company’s stock worth $172,000 after acquiring an additional 899 shares during the period. Rhumbline Advisers lifted its position in Kinnate Biopharma by 6.0% in the first quarter. Rhumbline Advisers now owns 32,079 shares of the company’s stock worth $361,000 after purchasing an additional 1,809 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Kinnate Biopharma by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 149,051 shares of the company’s stock worth $909,000 after buying an additional 2,257 shares in the last quarter. Quantbot Technologies LP bought a new stake in Kinnate Biopharma in the 1st quarter valued at $27,000. Finally, Renaissance Technologies LLC raised its stake in shares of Kinnate Biopharma by 2.9% in the 4th quarter. Renaissance Technologies LLC now owns 103,400 shares of the company’s stock valued at $631,000 after buying an additional 2,900 shares in the last quarter. 98.68% of the stock is owned by institutional investors and hedge funds.

Kinnate Biopharma Company 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.