Chinook Therapeutics, Inc. (NASDAQ:KDNY) Holdings Boosted by SG Americas Securities LLC

SG Americas Securities LLC boosted its position in shares of Chinook Therapeutics, Inc. (NASDAQ:KDNYGet Rating) by 15.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,041 shares of the company’s stock after purchasing an additional 3,775 shares during the period. SG Americas Securities LLC’s holdings in Chinook Therapeutics were worth $551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in shares of Chinook Therapeutics by 92.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,419,099 shares of the company’s stock valued at $42,310,000 after buying an additional 1,164,899 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Chinook Therapeutics during the 2nd quarter valued at $18,572,000. Frazier Life Sciences Management L.P. boosted its stake in shares of Chinook Therapeutics by 32.6% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,595,026 shares of the company’s stock valued at $62,877,000 after buying an additional 882,985 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Chinook Therapeutics during the 2nd quarter valued at $8,610,000. Finally, Millennium Management LLC boosted its stake in shares of Chinook Therapeutics by 60.8% during the 2nd quarter. Millennium Management LLC now owns 1,185,233 shares of the company’s stock valued at $20,730,000 after buying an additional 448,094 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Andrew James King sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were 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 legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Eric Bjerkholt sold 5,770 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $22.29, for a total transaction of $128,613.30. Following the transaction, the chief financial officer now owns 32,847 shares in the company, valued at approximately $732,159.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Andrew James King sold 10,000 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 65,770 shares of company stock valued at $1,527,713 in the last quarter. Insiders own 23.38% of the company’s stock.

Chinook Therapeutics Price Performance

Chinook Therapeutics stock opened at $26.37 on Tuesday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -14.33 and a beta of 0.02. Chinook Therapeutics, Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $27.44. The firm has a fifty day moving average price of $24.09 and a two-hundred day moving average price of $21.69.

Chinook Therapeutics (NASDAQ:KDNYGet Rating) last released 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). The firm had revenue of $2.50 million for the quarter, compared to analyst estimates of $0.35 million. Chinook Therapeutics had a negative return on equity of 25.30% and a negative net margin of 207.15%. As a group, sell-side analysts expect that Chinook Therapeutics, Inc. will post -2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KDNY. Stifel Nicolaus lifted their target price on shares of Chinook Therapeutics from $30.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, December 22nd. Wells Fargo & Company initiated coverage on shares of Chinook Therapeutics in a research note on Monday, December 5th. They issued an “overweight” rating and a $30.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Chinook Therapeutics in a research note on Thursday, November 17th. Wedbush reaffirmed an “outperform” rating on shares of Chinook Therapeutics in a research note on Friday, November 11th. Finally, HC Wainwright lifted their price objective on shares of Chinook Therapeutics from $32.00 to $33.00 in a research note on Wednesday, November 23rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $37.50.

About Chinook Therapeutics

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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.

Further Reading

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

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