Wedbush Cuts Kinnate Biopharma (NASDAQ:KNTE) Price Target to $25.00

Kinnate Biopharma (NASDAQ:KNTE – Get Rating) had its price objective reduced by Wedbush from $29.00 to $25.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Separately, Stifel Nicolaus dropped their price target on shares of Kinnate Biopharma from $11.00 to $8.00 and set a hold rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $25.00.

Kinnate Biopharma Stock Performance

Shares of NASDAQ:KNTE opened at $5.42 on Thursday. The company has a fifty day simple moving average of $6.17 and a 200 day simple moving average of $8.14. Kinnate Biopharma has a 12-month low of $3.30 and a 12-month high of $15.86.

Kinnate Biopharma (NASDAQ:KNTE – Get Rating) last issued its quarterly earnings results on Wednesday, March 15th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.02). As a group, analysts expect that Kinnate Biopharma will post -2.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kinnate Biopharma

A number of hedge funds have recently added to or reduced their stakes in KNTE. FMR LLC boosted its holdings in Kinnate Biopharma by 51.9% in the second quarter. FMR LLC now owns 2,193,316 shares of the company’s stock worth $27,658,000 after purchasing an additional 749,012 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Kinnate Biopharma by 209.5% during the second quarter. Goldman Sachs Group Inc. now owns 210,958 shares of the company’s stock valued at $2,660,000 after acquiring an additional 142,804 shares during the period. Western Standard LLC acquired a new position in shares of Kinnate Biopharma during the second quarter valued at $1,296,000. DAFNA Capital Management LLC boosted its holdings in shares of Kinnate Biopharma by 51.5% during the second quarter. DAFNA Capital Management LLC now owns 224,451 shares of the company’s stock valued at $2,830,000 after acquiring an additional 76,300 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Kinnate Biopharma by 300.0% during the second quarter. Renaissance Technologies LLC now owns 95,600 shares of the company’s stock valued at $1,206,000 after acquiring an additional 71,700 shares during the period. Institutional investors and hedge funds own 98.68% of the company’s stock.

About Kinnate Biopharma

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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.