Acuitas Investments LLC Acquires Shares of 289,766 Kinnate Biopharma Inc. (NASDAQ:KNTE)

Acuitas Investments LLC purchased a new stake in shares of Kinnate Biopharma Inc. (NASDAQ:KNTE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 289,766 shares of the company’s stock, valued at approximately $687,000.

Other hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kinnate Biopharma during the 3rd quarter valued at about $73,000. Pale Fire Capital SE increased its holdings in Kinnate Biopharma by 196.3% in the third quarter. Pale Fire Capital SE now owns 70,174 shares of the company’s stock valued at $98,000 after purchasing an additional 46,492 shares during the last quarter. Citigroup Inc. lifted its stake in Kinnate Biopharma by 53,138.6% in the third quarter. Citigroup Inc. now owns 420,585 shares of the company’s stock valued at $589,000 after buying an additional 419,795 shares during the period. Acadian Asset Management LLC boosted its holdings in Kinnate Biopharma by 71.0% during the third quarter. Acadian Asset Management LLC now owns 736,686 shares of the company’s stock worth $1,030,000 after buying an additional 305,884 shares during the last quarter. Finally, BML Capital Management LLC acquired a new position in shares of Kinnate Biopharma during the 4th quarter worth about $1,059,000. Institutional investors own 80.89% of the company’s stock.

Kinnate Biopharma Stock Performance

Shares of NASDAQ:KNTE traded down $0.01 during mid-day trading on Friday, reaching $2.65. 2,812,200 shares of the company’s stock were exchanged, compared to its average volume of 418,678. The business’s fifty day moving average price is $2.60 and its 200-day moving average price is $2.23. Kinnate Biopharma Inc. has a twelve month low of $1.04 and a twelve month high of $7.18. The firm has a market capitalization of $125.13 million, a price-to-earnings ratio of -0.95 and a beta of 1.38.

Wall Street Analysts Forecast Growth

KNTE has been the subject of a number of recent analyst reports. William Blair cut shares of Kinnate Biopharma from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Wedbush restated a “neutral” rating and issued a $2.00 price objective on shares of Kinnate Biopharma in a report on Wednesday, January 17th. Finally, Stifel Nicolaus lifted their price objective on shares of Kinnate Biopharma to $2.59 and gave the company a “hold” rating in a research report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.15.

Kinnate Biopharma 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.