Chinook Therapeutics, Inc. (NASDAQ:KDNY)’s stock price fell 6.4% during mid-day trading on Thursday . The company traded as low as $13.50 and last traded at $13.54. 10,687 shares were traded during mid-day trading, a decline of 96% from the average session volume of 296,621 shares. The stock had previously closed at $14.46.
Several equities research analysts recently commented on KDNY shares. Bloom Burton restated a “buy” rating and set a $40.00 target price on shares of Chinook Therapeutics in a research report on Monday, June 14th. Zacks Investment Research cut Chinook Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, May 31st. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $29.75.
The firm’s fifty day moving average is $15.72.
In other news, insider Alan Glicklich sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 16th. The stock was sold at an average price of $16.35, for a total value of $327,000.00. Following the transaction, the insider now owns 20,000 shares in the company, valued at approximately $327,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 29.75% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in shares of Chinook Therapeutics during the fourth quarter worth $27,000. Citigroup Inc. bought a new position in shares of Chinook Therapeutics in the fourth quarter worth approximately $62,000. American International Group Inc. bought a new position in Chinook Therapeutics in the fourth quarter valued at $122,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Chinook Therapeutics in the 4th quarter worth about $159,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Chinook Therapeutics during the 1st quarter valued at about $239,000. Institutional investors own 52.37% of the company’s stock.
Chinook Therapeutics Company Profile (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 primary glomerular diseases.
Recommended Story: Real Estate Investment Trust (REIT) ETF
Receive News & Ratings for Chinook Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chinook Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.