With 0.11 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.28 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.7900 whereas the lowest price it dropped to was $1.6800. The 52-week range on KNTE shows that it touched its highest point at $12.94 and its lowest point at $1.69 during that stretch. It currently has a 1-year price target of $19.40. Beta for the stock currently stands at 0.10.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KNTE was down-trending over the past week, with a drop of -11.46%, but this was down by -19.81% over a month. Three-month performance dropped to -50.00% while six-month performance fell -68.63%. The stock lost -86.05% in the past year, while it has lost -72.13% so far this year. A look at the trailing 12-month EPS for KNTE yields -2.82 with Next year EPS estimates of -2.74. For the next quarter, that number is -0.73. This implies an EPS growth rate of -28.20% for this year and 3.90% for next year.
Float and Shares Shorts:
At present, 46.66 million KNTE shares are outstanding with a float of 33.82 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.18 million, which was 2.50% higher than short shares on Jul 30, 2023. In addition to Mr. Nima Farzan M.B.A. as the firm’s Pres, CEO & Director, Ms. Neha Krishnamohan serves as its CFO, Principal Accounting Officer and Exec. VP of Corp. Devel..
Through their ownership of 103.83% of KNTE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.81% of KNTE, in contrast to 40.84% held by mutual funds. Shares owned by individuals account for 21.77%. As the largest shareholder in KNTE with 4.35% of the stake, Lynx1 Capital Management LP holds 2,048,736 shares worth 2,048,736. A second-largest stockholder of KNTE, Viking Global Investors LP, holds 1,820,462 shares, controlling over 3.87% of the firm’s shares. Citadel Advisors LLC is the third largest shareholder in KNTE, holding 1,086,369 shares or 2.31% stake. With a 1.55% stake in KNTE, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 730,663 shares are owned by the mutual fund manager. The Fidelity Select Port. – Biotechno, which owns about 1.43% of KNTE stock, is the second-largest Mutual Fund holder. It holds 673,377 shares valued at 1.5 million. BlackRock Health Sciences Trust I holds 0.63% of the stake in KNTE, owning 295,538 shares worth 0.66 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, KNTE reported revenue of $0.00 and operating income of -$27.41M. The EBITDA in the recently reported quarter was -$27.23M and diluted EPS was -$0.62.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KNTE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With KNTE analysts setting a high price target of $24.00 and a low target of $2.00, the average target price over the next 12 months is $11.90. Based on these targets, KNTE could surge 1311.76% to reach the target high and rise by 17.65% to reach the target low. Reaching the average price target will result in a growth of 600.0% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded KNTE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 10,961,806 while 8,079 shares were sold.