Kineta (NASDAQ:KA) Stock Price Down 7.4%

Kineta, Inc. (NASDAQ:KA)’s stock price traded down 7.4% during mid-day trading on Wednesday . The stock traded as low as $0.60 and last traded at $0.62. 172,659 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 298,369 shares. The stock had previously closed at $0.67.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Kineta in a research report on Thursday, January 18th.

Kineta Trading Down 7.4 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50-day moving average price is $0.98 and its two-hundred day moving average price is $2.56. The company has a market capitalization of $6.80 million, a price-to-earnings ratio of -0.45 and a beta of 0.52.

Kineta (NASDAQ:KA) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. Research analysts predict that Kineta, Inc. will post -1.41 earnings per share for the current year.

Institutional Trading of Kineta

An institutional investor recently raised its position in Kineta stock. Armistice Capital LLC grew its stake in shares of Kineta, Inc. (NASDAQ:KA) by 6.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 930,000 shares of the company’s stock after buying an additional 54,000 shares during the quarter. Armistice Capital LLC owned approximately 8.95% of Kineta worth $3,162,000 as of its most recent SEC filing. 30.32% of the stock is currently owned by institutional investors.

Kineta Company Profile

Kineta, Inc is a clinical-stage biotechnology company with a focus on developing immunotherapies that transform patients' lives. It focuses on developing potentially differentiated immunotherapies that address the challenges with current cancer therapy. The company's immuno-oncology pipeline includes KVA12123, a VISTA blocking immunotherapy in development as a twice weekly monoclonal antibody (mAb) infusion drug.