In last trading session, Kinnate Biopharma Inc (NASDAQ:KNTE) saw 0.54 million shares changing hands with its beta currently measuring 1.17. Company’s recent per share price level of $2.25 trading at -$0.01 or -0.44% at ring of the bell on the day assigns it a market valuation of $106.00M. That closing price of KNTE’s stock is at a discount of -310.67% from its 52-week high price of $9.24 and is indicating a premium of 53.78% from its 52-week low price of $1.04. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.5 million shares which gives us an average trading volume of 1.14 million if we extend that period to 3-months.
For Kinnate Biopharma Inc (KNTE), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.14. Splitting up the data highlights that, out of 7 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.42 in the current quarter.
Kinnate Biopharma Inc (NASDAQ:KNTE) trade information
Upright in the red during last session for losing -0.44%, in the last five days KNTE remained trading in the green while hitting it’s week-highest on Wednesday, 11/15/23 when the stock touched $2.25 price level, adding 15.73% to its value on the day. Kinnate Biopharma Inc’s shares saw a change of -63.11% in year-to-date performance and have moved 82.93% in past 5-day. Kinnate Biopharma Inc (NASDAQ:KNTE) showed a performance of 85.95% in past 30-days. Number of shares sold short was 1.06 million shares which calculate 9.55 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $6.64 to the stock, which implies a rise of 66.11% to its current value. Analysts have been projecting $1.50 as a low price target for the stock while placing it at a high target of $24.00. It follows that stock’s current price would drop -966.67% in reaching the projected high whereas dropping to the targeted low would mean a gain of 33.33% for stock’s current value.
Kinnate Biopharma Inc (KNTE) estimates and forecasts
Statistics highlight that Kinnate Biopharma Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -43.75% of value to its shares in past 6 months, showing an annual growth rate of 5.30% while that of industry is 14.80. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 41.70% in the current quarter and calculating 47.90% increase in the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -96.74% during past 5 years.
Kinnate Biopharma Inc is more likely to be releasing its next quarterly report on November 09 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Kinnate Biopharma Inc (NASDAQ:KNTE)’s Major holders
Insiders are in possession of 0.21% of company’s total shares while institution are holding 103.83 percent of that, with stock having share float percentage of 104.05%. Investors also watch the number of corporate investors in a company very closely, which is 103.83% institutions for Kinnate Biopharma Inc that are currently holding shares of the company. Foresite Capital Management IV, LLC is the top institutional holder at KNTE for having 9.67 million shares of worth $29.31 million. And as of Jun 29, 2023, it was holding 20.54% of the company’s outstanding shares.
The second largest institutional holder is Orbimed Advisors LLC., which was holding about 8.01 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 17.01% of outstanding shares, having a total worth of $24.27 million.
On the other hand, Vanguard Total Stock Market Index Fund and Fidelity Select Portfolios – Biotechnology are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 0.73 million shares of worth $2.21 million or 1.55% of the total outstanding shares. The later fund manager was in possession of 0.35 million shares on Aug 30, 2023, making its stake of worth around $0.78 million in the company or a holder of 0.75% of company’s stock.