Kineta, Inc. (NASDAQ:KA) Sees Significant Growth in Short Interest

Kineta, Inc. (NASDAQ:KA) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 75,300 shares, a growth of 276.5% from the February 29th total of 20,000 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average trading volume of 96,900 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On Kineta

Several large investors have recently added to or reduced their stakes in the company. Colony Group LLC bought a new stake in Kineta in the second quarter valued at $359,000. Vanguard Group Inc. grew its holdings in Kineta by 103.0% during the fourth quarter. Vanguard Group Inc. now owns 151,380 shares of the company’s stock worth $550,000 after acquiring an additional 76,822 shares during the period. Armistice Capital LLC grew its holdings in Kineta by 6.2% during the third quarter. Armistice Capital LLC now owns 930,000 shares of the company’s stock worth $3,162,000 after acquiring an additional 54,000 shares during the period. Northern Trust Corp acquired a new position in Kineta during the fourth quarter worth about $134,000. Finally, Stifel Financial Corp acquired a new position in Kineta during the fourth quarter worth about $79,000. 30.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Kineta in a research report on Thursday, January 18th.

Kineta Stock Performance

Shares of KA stock remained flat at $0.53 during mid-day trading on Friday. 139,453 shares of the stock were exchanged, compared to its average volume of 279,558. The company has a fifty day moving average price of $1.78 and a 200 day moving average price of $2.85. Kineta has a twelve month low of $0.41 and a twelve month high of $5.39. The company has a market capitalization of $5.76 million, a P/E ratio of -0.38 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.05.

Kineta Company Profile

Kineta, Inc is a clinical-stage biotechnology company with a focus on developing immunotherapies that transform patients' lives. It focuses on developing potentially differentiated immunotherapies that address the challenges with current cancer therapy. The company's immuno-oncology pipeline includes KVA12123, a VISTA blocking immunotherapy in development as a twice weekly monoclonal antibody (mAb) infusion drug.