Kinnate Biopharma (NASDAQ:KNTE) Downgraded to Neutral at Piper Sandler

Kinnate Biopharma (NASDAQ:KNTE) was downgraded by Piper Sandler to a “neutral” rating in a report released on Tuesday, FlyOnTheWall reports.

Separately, HC Wainwright reiterated a “buy” rating and set a $24.00 price target on shares of Kinnate Biopharma in a report on Tuesday, August 15th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Kinnate Biopharma presently has an average rating of “Hold” and an average target price of $17.25.

Kinnate Biopharma Stock Performance

Shares of KNTE opened at $1.70 on Tuesday. The firm has a market cap of $80.07 million, a PE ratio of -0.60 and a beta of 0.06. The firm’s 50 day moving average price is $2.51 and its 200 day moving average price is $3.56. Kinnate Biopharma has a twelve month low of $1.68 and a twelve month high of $12.94.

Kinnate Biopharma (NASDAQ:KNTE) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.08. On average, sell-side analysts anticipate that Kinnate Biopharma will post -2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kinnate Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Kinnate Biopharma by 20.7% in the 1st quarter. JPMorgan Chase & Co. now owns 21,870 shares of the company’s stock worth $246,000 after purchasing an additional 3,756 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Kinnate Biopharma by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 15,585 shares of the company’s stock valued at $175,000 after acquiring an additional 5,658 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Kinnate Biopharma by 6.0% in the 1st quarter. Rhumbline Advisers now owns 32,079 shares of the company’s stock worth $361,000 after acquiring an additional 1,809 shares during the period. BlackRock Inc. grew its holdings in shares of Kinnate Biopharma by 0.4% during the 1st quarter. BlackRock Inc. now owns 2,055,224 shares of the company’s stock worth $23,143,000 after purchasing an additional 8,189 shares in the last quarter. Finally, Ergoteles LLC bought a new stake in shares of Kinnate Biopharma during the first quarter valued at approximately $215,000.

Kinnate Biopharma Company Profile

Kinnate Biopharma Inc, a clinical-stage oncology 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.