why Kintara Therapeutics Inc. [KTRA] is a Good Choice for Investors After New Price Target of $3.17

Kintara Therapeutics Inc. [NASDAQ: KTRA] closed the trading session at $0.17 on 08/25/22. The day’s price range saw the stock hit a low of $0.1615, while the highest price level was $0.175. The company report on August 9, 2022 that Kintara Therapeutics Receives Study May Proceed Letter from the FDA for REM-001 for Cutaneous Metastatic Breast Cancer.

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Kintara Therapeutics, Inc. (Nasdaq: KTRA) (“Kintara” or the “Company”), a biopharmaceutical company focused on the development of new solid tumor cancer therapies, today announced that it has received a Study May Proceed letter from the United States Food and Drug Administration (FDA) to begin its 15 patient study evaluating REM-001 Photodynamic Therapy (PDT) for the treatment of Cutaneous Metastatic Breast Cancer (CMBC). This study is intended to aid in the design of a planned phase 3 registrational study.

“The FDA’s reactivation of our Investigational New Drug application for REM-001 is an important milestone for Kintara,” stated Robert E. Hoffman, President and CEO of Kintara. “This clinical study is part of a broad strategy designed to demonstrate proof of concept for our Photodynamic Therapy platform in CMBC, an area of unmet medical need, as well as across other cutaneous metastatic cancers.”.

The stocks have a year to date performance of -67.24 percent and weekly performance of -3.86 percent. The stock has been moved at -56.93 percent over the last six months. The stock has performed -11.91 percent around the most recent 30 days and changed 2.52 percent over the most recent 3-months.

If compared to the average trading volume of 3.53M shares, KTRA reached to a volume of 3299075 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Kintara Therapeutics Inc. [KTRA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KTRA shares is $3.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KTRA stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KTRA stock trade performance evaluation

Kintara Therapeutics Inc. [KTRA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.86. With this latest performance, KTRA shares dropped by -11.91% in over the last four-week period, additionally sinking by -56.93% over the last 6 months – not to mention a drop of -88.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KTRA stock in for the last two-week period is set at 38.37, with the RSI for the last a single of trading hit 35.01, and the three-weeks RSI is set at 40.91 for Kintara Therapeutics Inc. [KTRA]. The present Moving Average for the last 50 days of trading for this stock 0.2189, while it was recorded at 0.1664 for the last single week of trading, and 0.3729 for the last 200 days.

Kintara Therapeutics Inc. [KTRA]: An insightful look at the core fundamentals

Kintara Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.

Kintara Therapeutics Inc. [KTRA]: Insider Ownership positions

There are presently around $1 million, or 5.80% of KTRA stock, in the hands of institutional investors. The top three institutional holders of KTRA stocks are: VANGUARD GROUP INC with ownership of 1,417,482, which is approximately 0% of the company’s market cap and around 1.50% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 722,400 shares of the stock with an approximate value of $0.12 million in KTRA stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $60000.0 in KTRA stock with ownership of nearly -37.014% of the company’s market capitalization.

Positions in Kintara Therapeutics Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 9 institutional holders increased their position in Kintara Therapeutics Inc. [NASDAQ:KTRA] by around 983,699 shares. Additionally, 16 investors decreased positions by around 957,749 shares, while 6 investors held positions by with 1,539,887 shares. The mentioned changes placed institutional holdings at 3,481,335 shares, according to the latest SEC report filing. KTRA stock had 5 new institutional investments in for a total of 256,957 shares, while 11 institutional investors sold positions of 169,369 shares during the same period.


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