Squarepoint Ops LLC decreased its position in shares of Kindred Biosciences Inc (NASDAQ:KIN) by 71.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,124 shares of the biopharmaceutical company’s stock after selling 61,659 shares during the quarter. Squarepoint Ops LLC owned 0.07% of Kindred Biosciences worth $275,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Kindred Biosciences by 24.6% during the 3rd quarter. Legal & General Group Plc now owns 4,659 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 920 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Kindred Biosciences by 17.5% in the 4th quarter. Meeder Asset Management Inc. now owns 10,216 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 1,518 shares in the last quarter. Grassi Investment Management purchased a new stake in Kindred Biosciences in the 4th quarter valued at approximately $126,000. Teton Advisors Inc. purchased a new stake in Kindred Biosciences in the 4th quarter valued at approximately $142,000. Finally, Granite Investment Partners LLC purchased a new stake in Kindred Biosciences in the 4th quarter valued at approximately $163,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of KIN opened at $8.85 on Wednesday. Kindred Biosciences Inc has a fifty-two week low of $8.04 and a fifty-two week high of $15.75.
Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings results on Wednesday, March 6th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.04). The business had revenue of $1.33 million during the quarter, compared to the consensus estimate of $1.44 million. Equities research analysts predict that Kindred Biosciences Inc will post -1.54 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered Kindred Biosciences from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 13th. Cantor Fitzgerald set a $25.00 target price on Kindred Biosciences and gave the company a “buy” rating in a research note on Monday, January 14th. Aegis assumed coverage on Kindred Biosciences in a research note on Wednesday, April 10th. They issued a “buy” rating and a $16.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Kindred Biosciences in a research note on Thursday, March 7th. Finally, Zacks Investment Research raised Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $17.82.
In other Kindred Biosciences news, major shareholder Park West Asset Management Llc purchased 741,840 shares of the business’s stock in a transaction on Friday, January 18th. The stock was bought at an average cost of $9.50 per share, for a total transaction of $7,047,480.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.96% of the company’s stock.
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Kindred Biosciences Profile
Kindred Biosciences, Inc, a commercial-stage biopharmaceutical company, focusing on developing therapies for pets. Its product pipeline consists of small molecules and biologics for a range of indications in dogs, cats, and horses. The company offers Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
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