Kineta, Inc. (NASDAQ:KA) Short Interest Up 276.5% in March

Kineta, Inc. (NASDAQ:KA) was the target of a significant growth in short interest in the month of 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. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 96,900 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

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

Kineta Stock Performance

Shares of NASDAQ KA opened at $0.52 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.85 and a quick ratio of 0.85. Kineta has a 12 month low of $0.49 and a 12 month high of $5.39. The stock has a 50-day moving average price of $1.82 and a two-hundred day moving average price of $2.87.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KA. Renaissance Technologies LLC acquired a new position in Kineta during the fourth quarter worth about $111,000. CIBC Asset Management Inc acquired a new position in Kineta during the first quarter worth about $45,000. Geode Capital Management LLC acquired a new position in shares of Kineta in the first quarter valued at approximately $34,000. BlackRock Inc. increased its stake in shares of Kineta by 236.4% in the second quarter. BlackRock Inc. now owns 20,741 shares of the company’s stock valued at $54,000 after buying an additional 14,575 shares during the period. Finally, Colony Group LLC acquired a new position in shares of Kineta in the second quarter valued at approximately $359,000. Institutional investors and hedge funds own 30.32% of the company’s stock.

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.