Chinook Therapeutics (NASDAQ:KDNY) PT Raised to $33.00 at HC Wainwright

Chinook Therapeutics (NASDAQ:KDNYGet Rating) had its target price raised by HC Wainwright from $32.00 to $33.00 in a research report report published on Wednesday, The Fly reports.

A number of other equities research analysts have also recently commented on KDNY. Wedbush reiterated an outperform rating on shares of Chinook Therapeutics in a report on Friday, November 11th. Cantor Fitzgerald reissued an overweight rating on shares of Chinook Therapeutics in a research note on Thursday, November 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $35.67.

Chinook Therapeutics Stock Performance

Shares of NASDAQ:KDNY opened at $21.42 on Wednesday. The business’s fifty day moving average price is $20.67 and its two-hundred day moving average price is $19.15. The stock has a market cap of $1.37 billion, a PE ratio of -11.64 and a beta of 0.10. Chinook Therapeutics has a one year low of $11.16 and a one year high of $23.86.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KDNY. Frazier Life Sciences Management L.P. purchased a new position in shares of Chinook Therapeutics in the 1st quarter worth $44,369,000. Point72 Asset Management L.P. raised its position in shares of Chinook Therapeutics by 92.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,419,099 shares of the company’s stock worth $42,310,000 after buying an additional 1,164,899 shares during the period. Assenagon Asset Management S.A. purchased a new position in Chinook Therapeutics in the second quarter valued at about $18,572,000. Great Point Partners LLC raised its position in Chinook Therapeutics by 265.0% in the first quarter. Great Point Partners LLC now owns 1,423,682 shares of the company’s stock valued at $23,291,000 after purchasing an additional 1,033,641 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in Chinook Therapeutics in the third quarter valued at about $20,192,000.

About Chinook Therapeutics

(Get Rating)

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.

Further Reading

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