Stifel Nicolaus initiated coverage on shares of Kinnate Biopharma (NASDAQ:KNTE) in a report published on Wednesday, Price Targets.com reports. The brokerage issued a buy rating and a $32.00 price objective on the stock.
Several other equities research analysts also recently commented on KNTE. William Blair started coverage on shares of Kinnate Biopharma in a research note on Tuesday, July 13th. They issued an outperform rating for the company. Zacks Investment Research raised shares of Kinnate Biopharma from a sell rating to a hold rating in a research note on Wednesday, July 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $48.00.
Shares of NASDAQ:KNTE opened at $22.67 on Wednesday. Kinnate Biopharma has a 52 week low of $17.58 and a 52 week high of $48.75. The company has a market capitalization of $990.13 million and a PE ratio of -4.29. The company has a 50 day moving average price of $21.53 and a two-hundred day moving average price of $24.66.
Several institutional investors have recently added to or reduced their stakes in KNTE. Royal Bank of Canada boosted its holdings in Kinnate Biopharma by 257.6% during the first quarter. Royal Bank of Canada now owns 1,788 shares of the company’s stock worth $56,000 after purchasing an additional 1,288 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Kinnate Biopharma during the first quarter worth $158,000. New York State Common Retirement Fund acquired a new position in Kinnate Biopharma during the first quarter worth $227,000. The Manufacturers Life Insurance Company acquired a new position in Kinnate Biopharma during the first quarter worth $236,000. Finally, American International Group Inc. acquired a new position in Kinnate Biopharma during the first quarter worth $245,000. Institutional investors own 87.69% of the company’s stock.
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. It develops KIN-2787, which is 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 (FGFR)2 and FGFR3 genes; and small molecule research programs, including a Cyclin-Dependent Kinase 12 inhibitor in its KIN004 program.
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