EcoR1 Capital LLC cut its stake in shares of Kindred Biosciences, Inc. (NASDAQ:KIN) by 4.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 544,880 shares of the biopharmaceutical company’s stock after selling 26,246 shares during the period. Kindred Biosciences makes up about 1.0% of EcoR1 Capital LLC’s holdings, making the stock its 17th largest position. EcoR1 Capital LLC’s holdings in Kindred Biosciences were worth $3,841,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Kindred Biosciences by 5,283.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,334,953 shares of the biopharmaceutical company’s stock valued at $5,674,000 after buying an additional 1,310,155 shares during the last quarter. Renaissance Technologies LLC increased its stake in Kindred Biosciences by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 351,600 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 20,000 shares during the last quarter. Acadian Asset Management LLC increased its stake in Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 10,134 shares during the last quarter. 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 valued at $2,326,000 after buying an additional 3,550 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Kindred Biosciences during the first quarter valued at $102,000. 70.33% of the stock is owned by institutional investors and hedge funds.
Kindred Biosciences, Inc. (NASDAQ KIN) traded up 2.16% during midday trading on Friday, hitting $7.10. The stock had a trading volume of 344,642 shares. Kindred Biosciences, Inc. has a one year low of $3.25 and a one year high of $7.55. The stock has a 50-day moving average price of $6.91 and a 200 day moving average price of $6.23. The firm’s market cap is $165.50 million.
Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.04. On average, analysts predict that Kindred Biosciences, Inc. will post ($1.40) earnings per share for the current year.
Several research firms have recently commented on KIN. BMO Capital Markets restated a “hold” rating and set a $8.00 price target on shares of Kindred Biosciences in a research note on Friday, May 5th. FBR & Co began coverage on Kindred Biosciences in a research note on Wednesday, May 24th. They set an “outperform” rating and a $10.00 price target for the company. Zacks Investment Research upgraded Kindred Biosciences from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Wednesday, May 24th. ValuEngine upgraded Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Aegis began coverage on Kindred Biosciences in a research note on Friday. They set a “buy” rating and a $10.50 price target for the company. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $8.70.
In related news, major shareholder Park West Asset Management Llc acquired 15,311 shares of Kindred Biosciences stock in a transaction that occurred on Thursday, June 8th. The stock was acquired at an average price of $6.65 per share, for a total transaction of $101,818.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 19.10% of the company’s stock.
About Kindred Biosciences
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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