Kineta, Inc. (NASDAQ:KA) Short Interest Update

Kineta, Inc. (NASDAQ:KA) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 75,300 shares, a growth of 276.5% from the February 29th total of 20,000 shares. Based on an average daily volume of 96,900 shares, the short-interest ratio is currently 0.8 days. Currently, 1.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Kineta

Hedge funds and other institutional investors have recently made changes to their positions in the company. Armistice Capital LLC lifted its position in Kineta by 6.2% during the third quarter. Armistice Capital LLC now owns 930,000 shares of the company’s stock worth $3,162,000 after buying an additional 54,000 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in shares of Kineta during the 3rd quarter worth approximately $35,000. Vanguard Group Inc. lifted its position in shares of Kineta by 103.0% during the 4th quarter. Vanguard Group Inc. now owns 151,380 shares of the company’s stock worth $550,000 after buying an additional 76,822 shares during the last quarter. Colony Group LLC purchased a new stake in shares of Kineta during the 2nd quarter worth approximately $359,000. Finally, Northern Trust Corp purchased a new stake in shares of Kineta during the 4th quarter worth approximately $134,000. Hedge funds and other institutional investors own 30.32% of the company’s stock.

Kineta Price Performance

KA stock remained flat at $0.53 during mid-day trading on Friday. The company’s stock had a trading volume of 139,453 shares, compared to its average volume of 279,558. The firm has a market capitalization of $5.76 million, a P/E ratio of -0.38 and a beta of 0.53. The firm has a 50-day moving average of $1.78 and a 200 day moving average of $2.85. Kineta has a 52 week low of $0.41 and a 52 week high of $5.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.05.

Analyst Ratings Changes

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

About Kineta

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.