Chinook Therapeutics, Inc. (NASDAQ:KDNY) Receives $31.71 Consensus Price Target from Brokerages

Chinook Therapeutics, Inc. (NASDAQ:KDNY) has received an average rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $31.71.

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

In other Chinook Therapeutics news, CEO Eric Dobmeier acquired 7,000 shares of the company’s stock in a transaction dated Wednesday, August 18th. The stock was acquired at an average cost of $11.74 per share, with a total value of $82,180.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Davis Jerel sold 850,000 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Company insiders own 29.75% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in Chinook Therapeutics during the second quarter worth approximately $28,000. Royal Bank of Canada boosted its position in Chinook Therapeutics by 193.7% during the second 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. Ameritas Investment Partners Inc. boosted its position in Chinook Therapeutics by 122.4% during the second 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. Legal & General Group Plc boosted its position in Chinook Therapeutics by 74.9% during the second 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. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Chinook Therapeutics during the second quarter worth approximately $135,000. Hedge funds and other institutional investors own 58.50% of the company’s stock.

NASDAQ KDNY opened at $12.73 on Friday. Chinook Therapeutics has a 1 year low of $10.95 and a 1 year high of $21.68. The company has a market capitalization of $570.30 million, a PE ratio of -3.19 and a beta of 0.06. The company has a fifty day moving average of $13.26 and a two-hundred day moving average of $15.22.

Chinook Therapeutics (NASDAQ:KDNY) last announced its earnings results on Thursday, August 12th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.08. Chinook Therapeutics had a negative net margin of 2,885.36% and a negative return on equity of 52.69%. The business had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.25 million. As a group, sell-side analysts anticipate that Chinook Therapeutics will post -3.57 earnings per share for the current 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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