KNTE - Analysts Move To Sidelines For Cancer Player Kinnate Biopharma After Restructuring | Benzinga
Monday, Kinnate Biopharma Inc (NASDAQ: KNTE) prioritized the exarafenib combination, KIN-8741, and discovery efforts around its CDK4 selective program.
Kinnate also implemented a corporate restructuring by reducing the company's workforce by approximately 70%. It expects to have 28 remaining full-time employees.
Piper Sandler downgraded the stock from Overweight to Neutral with a price target of $4, down from $20.
Analysts Christopher Raymond, Allison Bratzel, and Nicole Gabreski note that the updated price target suggests potential gains compared to the current stock price, but they are opting ...