Kinnate Biopharma (NASDAQ:KNTE) Issues Quarterly Earnings Results, Meets Estimates

Kinnate Biopharma (NASDAQ:KNTEGet Rating) announced its quarterly earnings data on Thursday. The company reported ($0.61) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.61), MarketWatch Earnings reports.

KNTE stock traded up $0.62 during trading on Friday, hitting $9.25. 126,563 shares of the company traded hands, compared to its average volume of 154,434. The stock’s 50-day simple moving average is $9.39 and its 200 day simple moving average is $13.57. The company has a market cap of $406.77 million, a PE ratio of -4.49 and a beta of 2.51. Kinnate Biopharma has a 1 year low of $7.29 and a 1 year high of $27.00.

In other Kinnate Biopharma news, insider Richard Thomas Williams acquired 25,000 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was acquired at an average cost of $8.37 per share, for a total transaction of $209,250.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl L. Gordon acquired 30,700 shares of the business’s stock in a transaction dated Monday, February 14th. The stock was acquired at an average price of $9.95 per share, with a total value of $305,465.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 70,700 shares of company stock valued at $644,315. 44.20% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of KNTE. Morgan Stanley purchased a new stake in shares of Kinnate Biopharma in the second quarter valued at approximately $2,026,000. Invesco Ltd. purchased a new stake in shares of Kinnate Biopharma in the third quarter valued at approximately $205,000. Royal Bank of Canada boosted its stake in shares of Kinnate Biopharma by 82.1% in the third quarter. Royal Bank of Canada now owns 3,663 shares of the company’s stock worth $85,000 after acquiring an additional 1,651 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Kinnate Biopharma in the third quarter worth approximately $169,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Kinnate Biopharma in the third quarter worth approximately $206,000. Institutional investors and hedge funds own 96.39% of the company’s stock.

A number of brokerages have recently weighed in on KNTE. Stifel Nicolaus reissued a “buy” rating and issued a $35.00 price objective on shares of Kinnate Biopharma in a report on Friday, February 11th. Zacks Investment Research raised Kinnate Biopharma from a “sell” rating to a “hold” rating in a report on Wednesday, March 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kinnate Biopharma has an average rating of “Buy” and an average target price of $41.67.

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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Earnings History for Kinnate Biopharma (NASDAQ:KNTE)

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