Kinnate Biopharma Inc. (NASDAQ:KNTE) Short Interest Down 43.6% in March

Kinnate Biopharma Inc. (NASDAQ:KNTE) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 465,600 shares, a decrease of 43.6% from the February 29th total of 825,000 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 381,000 shares, the days-to-cover ratio is currently 1.2 days.

Kinnate Biopharma Stock Up 0.8 %

Shares of KNTE traded up $0.02 during trading on Thursday, reaching $2.68. The company’s stock had a trading volume of 19,674 shares, compared to its average volume of 363,985. The company has a fifty day moving average of $2.47 and a two-hundred day moving average of $2.07. Kinnate Biopharma has a twelve month low of $1.04 and a twelve month high of $7.18. The company has a market cap of $126.25 million, a price-to-earnings ratio of -0.96 and a beta of 1.36.

Hedge Funds Weigh In On Kinnate Biopharma

A number of institutional investors have recently made changes to their positions in the business. American International Group Inc. raised its position in shares of Kinnate Biopharma by 7.0% in the 2nd quarter. American International Group Inc. now owns 13,677 shares of the company’s stock valued at $172,000 after purchasing an additional 899 shares in the last quarter. Rhumbline Advisers raised its position in shares of Kinnate Biopharma by 6.0% during the 1st quarter. Rhumbline Advisers now owns 32,079 shares of the company’s stock valued at $361,000 after acquiring an additional 1,809 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Kinnate Biopharma by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 149,051 shares of the company’s stock valued at $909,000 after acquiring an additional 2,257 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Kinnate Biopharma during the 1st quarter valued at approximately $27,000. Finally, Renaissance Technologies LLC raised its position in shares of Kinnate Biopharma by 2.9% during the 4th quarter. Renaissance Technologies LLC now owns 103,400 shares of the company’s stock valued at $631,000 after acquiring an additional 2,900 shares in the last quarter. 80.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KNTE shares. William Blair downgraded shares of Kinnate Biopharma from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Stifel Nicolaus increased their target price on shares of Kinnate Biopharma to $2.59 and gave the stock a “hold” rating in a research report on Monday, February 26th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $2.00 price objective on shares of Kinnate Biopharma in a research report on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.72.

Kinnate Biopharma Company Profile

Kinnate Biopharma Inc, a clinical-stage oncology 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.