Marquette Asset Management LLC Invests $142,000 in Kinnate Biopharma Inc. (NASDAQ:KNTE)

Marquette Asset Management LLC acquired a new stake in shares of Kinnate Biopharma Inc. (NASDAQ:KNTE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,961 shares of the company’s stock, valued at approximately $142,000. Marquette Asset Management LLC owned about 0.13% of Kinnate Biopharma at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in KNTE. Citigroup Inc. boosted its holdings in shares of Kinnate Biopharma by 53,138.6% in the 3rd quarter. Citigroup Inc. now owns 420,585 shares of the company’s stock valued at $589,000 after acquiring an additional 419,795 shares during the last quarter. Acadian Asset Management LLC grew its position in Kinnate Biopharma by 71.0% during the 3rd quarter. Acadian Asset Management LLC now owns 736,686 shares of the company’s stock worth $1,030,000 after purchasing an additional 305,884 shares during the period. Acuitas Investments LLC acquired a new position in shares of Kinnate Biopharma in the 4th quarter valued at about $687,000. Pale Fire Capital SE grew its holdings in 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 acquiring an additional 46,492 shares during the period. Finally, BML Capital Management LLC acquired a new position in Kinnate Biopharma in the fourth quarter valued at approximately $1,110,000. 80.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kinnate Biopharma Stock Performance

Shares of KNTE traded down $0.01 during mid-day trading on Friday, hitting $2.65. 2,812,200 shares of the company were exchanged, compared to its average volume of 418,678. The company has a 50 day moving average of $2.60 and a 200-day moving average of $2.24. The stock has a market cap of $125.13 million, a price-to-earnings ratio of -0.95 and a beta of 1.38. Kinnate Biopharma Inc. has a 1-year low of $1.04 and a 1-year high of $7.18.

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.