Kinnate Biopharma (NASDAQ:KNTE – Get Rating) posted its quarterly earnings data on Wednesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.02), Yahoo Finance reports.
Kinnate Biopharma Trading Up 16.9 %
NASDAQ KNTE opened at $5.46 on Friday. Kinnate Biopharma has a 12 month low of $3.30 and a 12 month high of $15.86. The stock has a market cap of $241.17 million, a price-to-earnings ratio of -2.16 and a beta of 0.20. The company’s 50 day moving average is $6.19 and its two-hundred day moving average is $8.24.
Institutional Investors Weigh In On Kinnate Biopharma
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KNTE. FMR LLC raised its stake in Kinnate Biopharma by 51.9% during the 2nd quarter. FMR LLC now owns 2,193,316 shares of the company’s stock worth $27,658,000 after acquiring an additional 749,012 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Kinnate Biopharma by 209.5% during the second quarter. Goldman Sachs Group Inc. now owns 210,958 shares of the company’s stock valued at $2,660,000 after purchasing an additional 142,804 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Kinnate Biopharma by 300.0% during the second quarter. Renaissance Technologies LLC now owns 95,600 shares of the company’s stock valued at $1,206,000 after purchasing an additional 71,700 shares during the period. Novo Holdings A S boosted its stake in shares of Kinnate Biopharma by 12.9% during the first quarter. Novo Holdings A S now owns 624,236 shares of the company’s stock valued at $7,029,000 after purchasing an additional 71,108 shares during the period. Finally, State Street Corp raised its holdings in shares of Kinnate Biopharma by 8.8% in the first quarter. State Street Corp now owns 423,154 shares of the company’s stock valued at $4,765,000 after acquiring an additional 34,224 shares in the last quarter. Institutional investors own 98.68% of the company’s stock.
Analysts Set New Price Targets
About Kinnate Biopharma
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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