Chinook Therapeutics (NASDAQ:KDNY) Trading Down 6.4%

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.

Chinook Therapeutics (NASDAQ:KDNY) last released its quarterly earnings data on Wednesday, May 12th. The company reported ($0.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.22). The business had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.25 million. Chinook Therapeutics had a negative return on equity of 63.71% and a negative net margin of 1,122.34%. As a group, equities analysts predict that Chinook Therapeutics, Inc. will post -3.23 earnings per share for the current year.

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.

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