Acuitas Investments LLC Invests $687,000 in Kinnate Biopharma Inc. (NASDAQ:KNTE)

Acuitas Investments LLC purchased a new position in Kinnate Biopharma Inc. (NASDAQ:KNTE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 289,766 shares of the company’s stock, valued at approximately $687,000. Acuitas Investments LLC owned approximately 0.62% of Kinnate Biopharma at the end of the most recent reporting period.

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

Kinnate Biopharma Price Performance

NASDAQ:KNTE traded down $0.01 during midday trading on Friday, hitting $2.65. The company’s stock had a trading volume of 2,812,200 shares, compared to its average volume of 418,678. Kinnate Biopharma Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $7.18. The firm has a market cap of $125.13 million, a P/E ratio of -0.95 and a beta of 1.38. The firm’s 50 day moving average is $2.60 and its 200-day moving average is $2.23.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wedbush reaffirmed a “neutral” rating and issued a $2.00 price objective on shares of Kinnate Biopharma in a research note on Wednesday, January 17th. Stifel Nicolaus boosted their target price on shares of Kinnate Biopharma to $2.59 and gave the stock a “hold” rating in a report on Monday, February 26th. Finally, William Blair downgraded Kinnate Biopharma from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.15.

About Kinnate Biopharma

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.