Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $15.11, but opened at $14.10. Chinook Therapeutics shares last traded at $14.08, with a volume of 74,056 shares traded.
A number of equities research analysts recently issued reports on KDNY shares. Zacks Investment Research raised Chinook Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Tuesday. SVB Leerink lifted their target price on Chinook Therapeutics from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday.
The firm has a market capitalization of $758.68 million, a price-to-earnings ratio of -6.80 and a beta of 0.10. The firm has a 50 day moving average of $15.00 and a two-hundred day moving average of $14.60.
In other news, insider Andrew James King sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $15.36, for a total transaction of $76,800.00. Following the transaction, the insider now directly owns 5,897 shares of the company’s stock, valued at $90,577.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.38% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its holdings in Chinook Therapeutics by 5,323.7% during the 2nd quarter. Morgan Stanley now owns 67,145 shares of the company’s stock worth $948,000 after purchasing an additional 65,907 shares in the last quarter. Royal Bank of Canada grew its position in shares of Chinook Therapeutics by 193.7% in the 2nd quarter. Royal Bank of Canada now owns 2,182 shares of the company’s stock worth $30,000 after buying an additional 1,439 shares during the last quarter. Invesco Ltd. bought a new stake in shares of Chinook Therapeutics in the 2nd quarter worth approximately $148,000. BlackRock Inc. grew its position in shares of Chinook Therapeutics by 2.7% in the 3rd quarter. BlackRock Inc. now owns 2,537,226 shares of the company’s stock worth $32,375,000 after buying an additional 66,757 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of Chinook Therapeutics by 81.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 46,155 shares of the company’s stock worth $589,000 after buying an additional 20,692 shares during the last quarter. Institutional investors own 84.23% of the company’s stock.
About Chinook Therapeutics (NASDAQ:KDNY)
Chinook Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of precision medicines for kidney diseases. The company's lead clinical program is atrasentan, a Phase III endothelin receptor antagonist for the treatment of IgA nephropathy and other proteinuric glomerular diseases.
- Get a free copy of the StockNews.com research report on Chinook Therapeutics (KDNY)
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