Kinnate Biopharma Inc. (KNTE) Upgraded to Buy: What Does It Mean for the Stock?

Zacks02-29

Kinnate Biopharma Inc. (KNTE) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- ...

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This rating change essentially reflects an upward trend in earnings estimates -- ...</p>\n\n<a href=\"https://finance.yahoo.com/news/kinnate-biopharma-inc-knte-upgraded-170009221.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Kinnate Biopharma Inc. 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(KNTE) Upgraded to Buy: What Does It Mean for the Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-29 01:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/kinnate-biopharma-inc-knte-upgraded-170009221.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Kinnate Biopharma Inc. (KNTE) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- ...</p>\n\n<a href=\"https://finance.yahoo.com/news/kinnate-biopharma-inc-knte-upgraded-170009221.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KNTE","symbol_name":"Kinnate BioPharma Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/kinnate-biopharma-inc-knte-upgraded-170009221.html","article_id":"2415309593","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/UPInF06X6fJkTqeimnpZuQ--~B/aD03NDU7dz05MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/078b2d95159d12a337f09f2519ff10ba"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2415309593","pubTimestamp":1709139609,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Kinnate Biopharma Inc.  could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 . This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.As such, the Zacks rating upgrade for Kinnate Biopharma Inc. is essentially a positive comment on its earnings outlook that could have a favorable impact o","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"KNTE":"Kinnate BioPharma Inc."},"translate_title":"Kinnate生物制药公司（KNTE）评级上调为买入：这对该股意味着什么？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KNTE":1},"content_text":"Kinnate Biopharma Inc. (KNTE) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.\nThe sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.\nThe power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.\nAs such, the Zacks rating upgrade for Kinnate Biopharma Inc. is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.\nMost Powerful Force Impacting Stock Prices\nThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.\nFundamentally speaking, rising earnings estimates and the consequent rating upgrade for Kinnate Biopharma Inc. imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.\nHarnessing the Power of Earnings Estimate Revisions\nEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.\nThe Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.\nEarnings Estimate Revisions for Kinnate Biopharma Inc.\nThis company is expected to earn -$2.53 per share for the fiscal year ending December 2023, which represents a year-over-year change of 4.2%.\nAnalysts have been steadily raising their estimates for Kinnate Biopharma Inc. Over the past three months, the Zacks Consensus Estimate for the company has increased 6.8%.\nBottom Line\nUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.\nYou can learn more about the Zacks Rank here >>>\nThe upgrade of Kinnate Biopharma Inc. to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nKinnate Biopharma Inc. (KNTE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2415309593"}