Chinook Therapeutics, Inc. (NASDAQ:KDNY) Given Consensus Recommendation of “Buy” by Analysts

Chinook Therapeutics, Inc. (NASDAQ:KDNY) has received an average rating of “Buy” from the nine analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $31.71.

Several equities research analysts have recently commented on KDNY shares. Bloom Burton restated a “buy” rating and set a $40.00 price objective on shares of Chinook Therapeutics in a report on Monday, June 14th. Zacks Investment Research upgraded Chinook Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 4th.

In other news, Director Davis Jerel sold 850,000 shares of the company’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $14.00, for a total transaction of $11,900,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric Dobmeier purchased 7,000 shares of the company’s stock in a transaction dated Wednesday, August 18th. The shares were purchased at an average cost of $11.74 per share, for a total transaction of $82,180.00. The disclosure for this purchase can be found here. 29.75% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in KDNY. Legal & General Group Plc increased its stake in Chinook Therapeutics by 74.9% in the 2nd quarter. Legal & General Group Plc now owns 2,510 shares of the company’s stock worth $35,000 after acquiring an additional 1,075 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Chinook Therapeutics by 122.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,466 shares of the company’s stock worth $35,000 after acquiring an additional 1,357 shares during the last quarter. Royal Bank of Canada increased its stake in 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 acquiring an additional 1,439 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Chinook Therapeutics in the 2nd quarter worth about $28,000. Finally, Rock Springs Capital Management LP increased its stake in Chinook Therapeutics by 0.6% in the 1st quarter. Rock Springs Capital Management LP now owns 673,049 shares of the company’s stock worth $10,459,000 after acquiring an additional 4,200 shares during the last quarter. Institutional investors own 58.50% of the company’s stock.

Shares of KDNY traded down $0.34 during mid-day trading on Friday, reaching $12.13. 5,640 shares of the company were exchanged, compared to its average volume of 232,475. Chinook Therapeutics has a 52 week low of $10.95 and a 52 week high of $21.68. The stock has a market capitalization of $543.42 million, a PE ratio of -3.02 and a beta of 0.06. The business has a 50 day simple moving average of $13.18 and a two-hundred day simple moving average of $15.18.

Chinook Therapeutics (NASDAQ:KDNY) last issued its quarterly earnings data on Thursday, August 12th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.08. The company had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.25 million. Chinook Therapeutics had a negative return on equity of 52.69% and a negative net margin of 2,885.36%. Equities research analysts predict that Chinook Therapeutics will post -3.57 EPS for the current fiscal year.

Chinook Therapeutics Company Profile

Chinook Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in discovering, developing, and commercializing precision medicines for rare, severe chronic kidney diseases. The company was founded in 2019 and is headquartered in Seattle, WA.

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Analyst Recommendations for Chinook Therapeutics (NASDAQ:KDNY)

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