Prudential Financial Inc. cut its holdings in Kindred Biosciences, Inc. (NASDAQ:KIN) by 29.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,510 shares of the biopharmaceutical company’s stock after selling 18,290 shares during the quarter. Prudential Financial Inc. owned 0.19% of Kindred Biosciences worth $383,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in shares of Kindred Biosciences by 1.1% in the first quarter. Wells Fargo & Company MN now owns 329,902 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,550 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Kindred Biosciences by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 4,954 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Kindred Biosciences in the second quarter valued at approximately $120,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Kindred Biosciences in the first quarter valued at approximately $102,000. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Kindred Biosciences in the second quarter valued at approximately $129,000. Hedge funds and other institutional investors own 60.37% of the company’s stock.
Shares of Kindred Biosciences, Inc. (NASDAQ:KIN) opened at 8.05 on Thursday. The firm’s 50-day moving average price is $7.59 and its 200-day moving average price is $7.37. The stock’s market capitalization is $224.09 million. Kindred Biosciences, Inc. has a 52-week low of $3.90 and a 52-week high of $9.65.
Kindred Biosciences (NASDAQ:KIN) last posted its 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. Equities analysts forecast that Kindred Biosciences, Inc. will post ($1.27) earnings per share for the current fiscal year.
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A number of analysts recently weighed in on KIN shares. Aegis started coverage on Kindred Biosciences in a research note on Friday, June 16th. They issued a “buy” rating and a $10.50 price target on the stock. Zacks Investment Research upgraded Kindred Biosciences from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Kindred Biosciences presently has a consensus rating of “Buy” and an average target price of $8.85.
Kindred Biosciences 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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