State Board of Administration of Florida Retirement System Acquires New Stake in Chinook Therapeutics, Inc. (NASDAQ:KDNY)

State Board of Administration of Florida Retirement System acquired a new stake in shares of Chinook Therapeutics, Inc. (NASDAQ:KDNYGet Rating) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,960 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in shares of Chinook Therapeutics in the 2nd quarter worth $71,000. Lazard Asset Management LLC bought a new stake in shares of Chinook Therapeutics in the 1st quarter worth $76,000. Amalgamated Bank bought a new stake in shares of Chinook Therapeutics in the 1st quarter worth $77,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Chinook Therapeutics by 9.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 11,300 shares of the company’s stock worth $186,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Arizona State Retirement System bought a new stake in shares of Chinook Therapeutics in the 2nd quarter worth $188,000.

Insider Activity at Chinook Therapeutics

In related news, COO Tom Frohlich sold 10,000 shares of Chinook Therapeutics stock in a transaction on Monday, November 7th. The stock was sold at an average price of $22.16, for a total transaction of $221,600.00. Following the transaction, the chief operating officer now directly owns 143,907 shares in the company, valued at $3,188,979.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Tom Frohlich sold 10,000 shares of Chinook Therapeutics stock in a transaction on Monday, November 7th. The stock was sold at an average price of $22.16, for a total transaction of $221,600.00. Following the transaction, the chief operating officer now directly owns 143,907 shares in the company, valued at $3,188,979.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew James King sold 3,557 shares of Chinook Therapeutics stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $19.69, for a total value of $70,037.33. Following the transaction, the insider now owns 12,492 shares in the company, valued at $245,967.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,917 shares of company stock worth $436,556. Corporate insiders own 23.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KDNY. HC Wainwright lifted their target price on Chinook Therapeutics from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, August 15th. Cantor Fitzgerald restated an “overweight” rating on shares of Chinook Therapeutics in a research note on Thursday, November 17th. Finally, Wedbush restated an “outperform” rating on shares of Chinook Therapeutics in a research note on Friday, November 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $35.33.

Chinook Therapeutics Stock Performance

NASDAQ KDNY opened at $20.28 on Tuesday. The company has a market capitalization of $1.30 billion, a PE ratio of -11.03 and a beta of 0.10. The business’s fifty day moving average is $20.76 and its 200 day moving average is $19.06. Chinook Therapeutics, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $23.86.

Chinook Therapeutics Profile

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Chinook Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of precision medicines for kidney diseases. The company's lead clinical program is atrasentan, a Phase III endothelin receptor antagonist for the treatment of IgA nephropathy and other proteinuric glomerular diseases.

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Institutional Ownership by Quarter for Chinook Therapeutics (NASDAQ:KDNY)

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