Kindred Biosciences Inc (NASDAQ:KIN) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 638,600 shares, a growth of 28.2% from the June 30th total of 498,000 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 416,800 shares, the short-interest ratio is currently 1.5 days.
Kindred Biosciences stock traded down $0.07 on Friday, hitting $3.29. 303,861 shares of the stock traded hands, compared to its average volume of 221,833. The company has a current ratio of 5.73, a quick ratio of 5.65 and a debt-to-equity ratio of 0.36. The firm has a market cap of $129.26 million, a P/E ratio of -1.89 and a beta of 1.02. The business’s fifty day simple moving average is $4.13 and its 200 day simple moving average is $6.01. Kindred Biosciences has a 1 year low of $3.11 and a 1 year high of $11.93.
Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.04). The firm had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $1.75 million. Kindred Biosciences had a negative net margin of 1,567.56% and a negative return on equity of 72.77%. As a group, analysts predict that Kindred Biosciences will post -1.24 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. purchased a new position in shares of Kindred Biosciences in the 1st quarter worth about $1,158,000. Granahan Investment Management Inc. MA raised its position in shares of Kindred Biosciences by 20.5% in the 1st quarter. Granahan Investment Management Inc. MA now owns 920,593 shares of the biopharmaceutical company’s stock worth $3,682,000 after purchasing an additional 156,694 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Kindred Biosciences by 14.2% in the 1st quarter. Geode Capital Management LLC now owns 539,306 shares of the biopharmaceutical company’s stock worth $2,157,000 after purchasing an additional 67,259 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Kindred Biosciences by 84.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 57,227 shares of the biopharmaceutical company’s stock worth $229,000 after purchasing an additional 26,177 shares during the last quarter. Finally, UBS Group AG raised its position in shares of Kindred Biosciences by 19.3% in the 4th quarter. UBS Group AG now owns 144,079 shares of the biopharmaceutical company’s stock worth $1,222,000 after purchasing an additional 23,262 shares during the last quarter. 67.54% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Wednesday, July 8th. Aegis reiterated a “buy” rating on shares of Kindred Biosciences in a report on Tuesday, June 2nd. Finally, Cantor Fitzgerald cut their price target on shares of Kindred Biosciences from $25.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Kindred Biosciences currently has a consensus rating of “Buy” and a consensus price target of $9.38.
Kindred Biosciences Company Profile
Kindred Biosciences, Inc, a commercial-stage biopharmaceutical company, focusing on developing therapies for pets. Its product pipeline consists of small molecules and biologics for a range of indications in dogs, cats, and horses. The company offers Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
Further Reading: Cash Asset Ratio
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