Kinnate Biopharma dips after Stifel downgrade

Nov. 17, 2022 10:21 AM ETKinnate Biopharma Inc. (KNTE)By: Preeti Singh, SA News Editor
  • Kinnate Biopharma (NASDAQ:KNTE) shares fell 15% in Thursday's trading after Stifel Nicolaus downgraded the stock from Buy to Hold.
  • Analyst Benjamin Burnett raised questions over the the potential of the company’s KIN-2787 cancer drug treatment, stating that "We think the asset will likely show some activity in class 2/3 BRAF mutant cancers, but we lack conviction that this will differentiate from competitors."
  • Stifel's rating is line with SA Quant rating of hold. The brokerage also lowered KNTE's price target from $35.00 to $11.00
  • Kinnate Biopharma (KNTE) reported its third quarter results recently

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