Shell Asset Management Co. Reduces Position in Chinook Therapeutics, Inc. (NASDAQ:KDNY)

Shell Asset Management Co. cut its holdings in shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) by 21.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,008 shares of the company’s stock after selling 1,608 shares during the quarter. Shell Asset Management Co.’s holdings in Chinook Therapeutics were worth $118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its holdings in Chinook Therapeutics by 1.4% during the third quarter. New York State Common Retirement Fund now owns 62,875 shares of the company’s stock valued at $1,236,000 after purchasing an additional 862 shares during the last quarter. Amalgamated Bank increased its position in shares of Chinook Therapeutics by 16.1% during the third quarter. Amalgamated Bank now owns 6,442 shares of the company’s stock valued at $127,000 after buying an additional 892 shares during the period. Martingale Asset Management L P increased its position in shares of Chinook Therapeutics by 3.3% during the second quarter. Martingale Asset Management L P now owns 41,217 shares of the company’s stock valued at $721,000 after buying an additional 1,300 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Chinook Therapeutics during the second quarter valued at about $33,000. Finally, Northern Trust Corp increased its position in shares of Chinook Therapeutics by 0.6% during the first quarter. Northern Trust Corp now owns 350,290 shares of the company’s stock valued at $5,731,000 after buying an additional 2,113 shares during the period. 93.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KDNY has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Chinook Therapeutics in a research report on Thursday, November 17th. Oppenheimer upped their price target on Chinook Therapeutics from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Tuesday. Wells Fargo & Company initiated coverage on Chinook Therapeutics in a research report on Monday, December 5th. They set an “overweight” rating and a $30.00 price target on the stock. Stifel Nicolaus upped their price target on Chinook Therapeutics from $30.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, December 22nd. Finally, HC Wainwright decreased their price objective on shares of Chinook Therapeutics from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Chinook Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $37.50.

Insider Buying and Selling at Chinook Therapeutics

In other Chinook Therapeutics news, COO Tom Frohlich sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the chief operating officer now directly owns 143,907 shares in the company, valued at $3,597,675. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chinook Therapeutics news, CFO Eric Bjerkholt sold 2,891 shares of the stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $24.68, for a total transaction of $71,349.88. Following the transaction, the chief financial officer now directly owns 37,289 shares in the company, valued at $920,292.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Tom Frohlich sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the sale, the chief operating officer now directly owns 143,907 shares of the company’s stock, valued at approximately $3,597,675. The disclosure for this sale can be found here. Insiders have sold 70,747 shares of company stock worth $1,743,143 over the last ninety days. Insiders own 23.38% of the company’s stock.

Chinook Therapeutics Trading Up 5.2 %

KDNY stock opened at $22.95 on Thursday. The company’s 50 day moving average is $24.75 and its 200 day moving average is $22.62. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -7.97 and a beta of 0.06. Chinook Therapeutics, Inc. has a 1-year low of $11.81 and a 1-year high of $27.44.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.13). Chinook Therapeutics had a negative net margin of 3,065.68% and a negative return on equity of 40.01%. The business had revenue of $5.10 million for the quarter, compared to the consensus estimate of $0.10 million. The company’s quarterly revenue was down 90.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Chinook Therapeutics, Inc. will post -2.95 EPS for the current fiscal year.

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.