Kinnate Biopharma (NASDAQ:KNTE) Research Coverage Started at Stifel Nicolaus

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.

Kinnate Biopharma (NASDAQ:KNTE) last issued its earnings results on Sunday, August 15th. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.06). As a group, equities analysts forecast that Kinnate Biopharma will post -2.06 earnings per share for the current year.

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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Analyst Recommendations for Kinnate Biopharma (NASDAQ:KNTE)

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