Strs Ohio Buys 9,800 Shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY)

Strs Ohio increased its stake in Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) by 239.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,900 shares of the company’s stock after acquiring an additional 9,800 shares during the period. Strs Ohio’s holdings in Chinook Therapeutics were worth $273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of Chinook Therapeutics in the 2nd quarter valued at about $33,000. Quantbot Technologies LP bought a new stake in shares of Chinook Therapeutics in the 2nd quarter valued at about $60,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Chinook Therapeutics in the 3rd quarter valued at about $65,000. Lazard Asset Management LLC bought a new stake in shares of Chinook Therapeutics in the 1st quarter valued at about $76,000. Finally, Amalgamated Bank bought a new stake in shares of Chinook Therapeutics in the 1st quarter valued at about $77,000. Institutional investors own 93.86% of the company’s stock.

Chinook Therapeutics Stock Performance

KDNY stock opened at $26.56 on Friday. Chinook Therapeutics, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $27.44. The business’s 50 day moving average price is $23.99 and its two-hundred day moving average price is $21.59. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -14.01 and a beta of 0.02.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last posted its earnings results on Thursday, November 10th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.21). Chinook Therapeutics had a negative return on equity of 25.30% and a negative net margin of 207.15%. The firm had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $0.35 million. Sell-side analysts forecast that Chinook Therapeutics, Inc. will post -2.74 earnings per share for the current year.

Analyst Ratings Changes

KDNY has been the subject of a number of recent research reports. HC Wainwright boosted their target price on Chinook Therapeutics from $32.00 to $33.00 in a research note on Wednesday, November 23rd. Stifel Nicolaus boosted their price target on Chinook Therapeutics from $30.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, December 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of Chinook Therapeutics in a report on Thursday, November 17th. Wedbush restated an “outperform” rating on shares of Chinook Therapeutics in a report on Friday, November 11th. Finally, Wells Fargo & Company initiated coverage on Chinook Therapeutics in a report on Monday, December 5th. They set an “overweight” rating and a $30.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $37.50.

Insiders Place Their Bets

In other Chinook Therapeutics news, insider Andrew James King sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $25.82, for a total transaction of $258,200.00. Following the transaction, the insider now owns 9,992 shares in the company, valued at approximately $257,993.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Eric Dobmeier sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $22.31, for a total value of $669,300.00. Following the sale, the chief executive officer now owns 241,676 shares in the company, valued at approximately $5,391,791.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew James King sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $25.82, for a total value of $258,200.00. Following the completion of the sale, the insider now owns 9,992 shares in the company, valued at approximately $257,993.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,770 shares of company stock worth $1,527,713. Company insiders own 23.38% of the company’s stock.

Chinook Therapeutics Profile

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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.