Kinnate Biopharma (NASDAQ:KNTE) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

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

Kinnate Biopharma Price Performance

Kinnate Biopharma stock opened at $5.46 on Friday. The business has a fifty day moving average price of $6.19 and a 200-day moving average price of $8.24. Kinnate Biopharma has a 1-year low of $3.30 and a 1-year high of $15.86. The stock has a market capitalization of $241.17 million, a price-to-earnings ratio of -2.16 and a beta of 0.20.

Institutional Investors Weigh In On Kinnate Biopharma

Several institutional investors have recently added to or reduced their stakes in KNTE. Quantbot Technologies LP acquired a new position in shares of Kinnate Biopharma during the first quarter valued at about $27,000. Principal Financial Group Inc. purchased a new position in shares of Kinnate Biopharma in the fourth quarter worth $62,000. Jane Street Group LLC acquired a new stake in shares of Kinnate Biopharma during the fourth quarter worth $77,000. Alliancebernstein L.P. acquired a new stake in shares of Kinnate Biopharma during the fourth quarter worth $81,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Kinnate Biopharma by 263.6% during the third quarter. Tower Research Capital LLC TRC now owns 6,926 shares of the company’s stock valued at $83,000 after buying an additional 5,021 shares during the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KNTE shares. Wedbush cut their price target on Kinnate Biopharma from $29.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday. Stifel Nicolaus cut their target price on Kinnate Biopharma from $11.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.00.

About Kinnate Biopharma

(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.