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.
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.
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