Kindred Biosciences, Inc. (NASDAQ:KIN) Issues Earnings Results

Kindred Biosciences, Inc. (NASDAQ:KIN) posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04, Bloomberg Earnings reports.

Kindred Biosciences (NASDAQ:KIN) traded up 2.96% during midday trading on Friday, hitting $6.95. 91,457 shares of the stock traded hands. The company’s market cap is $193.47 million. The company’s 50 day moving average is $7.60 and its 200-day moving average is $7.02. Kindred Biosciences has a one year low of $3.90 and a one year high of $9.65.

Several equities research analysts have commented on KIN shares. FBR & Co started coverage on shares of Kindred Biosciences in a report on Wednesday, May 24th. They issued an “outperform” rating and a $10.00 price target on the stock. Zacks Investment Research raised shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a report on Friday, June 2nd. Aegis assumed coverage on shares of Kindred Biosciences in a report on Friday, June 16th. They issued a “buy” rating and a $10.50 price target on the stock. ValuEngine raised shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BMO Capital Markets reissued a “hold” rating and set a $8.00 target price on shares of Kindred Biosciences in a research note on Monday, May 15th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $8.85.

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In related news, insider Richard Chin sold 13,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $8.26, for a total transaction of $107,380.00. Following the sale, the insider now owns 2,297,546 shares of the company’s stock, valued at $18,977,729.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Park West Asset Management Llc acquired 15,311 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $101,818.15. The disclosure for this purchase can be found here. 19.10% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in KIN. Wells Fargo & Company MN increased its stake in Kindred Biosciences by 1.1% in the first quarter. Wells Fargo & Company MN now owns 329,902 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,550 shares in the last quarter. Virtu KCG Holdings LLC increased its stake in Kindred Biosciences by 41.7% in the second quarter. Virtu KCG Holdings LLC now owns 15,285 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 4,495 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Kindred Biosciences by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 4,954 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 10,134 shares during the last quarter. Finally, Nationwide Fund Advisors acquired a new position in shares of Kindred Biosciences during the second quarter worth about $100,000. 51.98% of the stock is currently owned by hedge funds and other institutional investors.

Kindred Biosciences Company Profile

Kindred Biosciences, Inc is a development-stage biopharmaceutical company. The Company is focused on developing therapies for pets. The Company’s product pipeline consists of small molecules and biologics for a range of indications in dogs, cats and horses. The Company is developing product candidates for over 20 indications and focused on small molecule products and canine and feline biologics products.

Earnings History for Kindred Biosciences (NASDAQ:KIN)

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