Chinook Therapeutics, Inc. (NASDAQ:KDNY) Given Average Recommendation of “Buy” by Brokerages

Shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) have been given a consensus recommendation of “Buy” by the nine analysts that are presently covering the company, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $38.00.

KDNY has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on Chinook Therapeutics in a research note on Monday, December 5th. They set an “overweight” rating and a $30.00 target price on the stock. Piper Sandler began coverage on Chinook Therapeutics in a report on Monday, March 6th. They set an “overweight” rating and a $41.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Chinook Therapeutics in a report on Thursday, November 17th. Oppenheimer increased their price target on Chinook Therapeutics from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, February 28th. Finally, HC Wainwright lowered their price target on Chinook Therapeutics from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, February 28th.

Chinook Therapeutics Stock Performance

Shares of KDNY opened at $22.69 on Wednesday. The business’s fifty day simple moving average is $24.19 and its two-hundred day simple moving average is $22.70. Chinook Therapeutics has a 12 month low of $12.12 and a 12 month high of $27.44. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -7.88 and a beta of 0.08.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last issued its earnings results on Monday, February 27th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.13). Chinook Therapeutics had a negative net margin of 3,065.68% and a negative return on equity of 40.61%. The business had revenue of $5.10 million for the quarter, compared to analysts’ expectations of $0.10 million. The company’s revenue for the quarter was down 90.0% on a year-over-year basis. As a group, research analysts forecast that Chinook Therapeutics will post -3.19 EPS for the current year.

Insider Buying and Selling

In related news, Director Davis Jerel sold 400,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $22.75, for a total value of $9,100,000.00. Following the transaction, the director now directly owns 210,996 shares of the company’s stock, valued at approximately $4,800,159. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Davis Jerel sold 400,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $22.75, for a total value of $9,100,000.00. Following the transaction, the director now directly owns 210,996 shares of the company’s stock, valued at approximately $4,800,159. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andrew James King sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 9,992 shares in the company, valued at $257,993.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 460,747 shares of company stock valued at $10,593,143. 23.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chinook Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. raised its holdings in Chinook Therapeutics by 1.9% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 4,345,559 shares of the company’s stock valued at $113,854,000 after acquiring an additional 80,000 shares during the period. BlackRock Inc. raised its holdings in Chinook Therapeutics by 9.6% during the third quarter. BlackRock Inc. now owns 3,651,299 shares of the company’s stock valued at $71,785,000 after acquiring an additional 319,169 shares during the period. State Street Corp raised its holdings in Chinook Therapeutics by 58.8% during the third quarter. State Street Corp now owns 2,465,719 shares of the company’s stock valued at $48,476,000 after acquiring an additional 912,778 shares during the period. Point72 Asset Management L.P. raised its holdings in Chinook Therapeutics by 0.9% during the third quarter. Point72 Asset Management L.P. now owns 2,440,754 shares of the company’s stock valued at $47,985,000 after acquiring an additional 21,655 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Chinook Therapeutics by 1.6% during the third quarter. Vanguard Group Inc. now owns 2,399,766 shares of the company’s stock valued at $47,180,000 after acquiring an additional 37,190 shares during the period. 93.86% of the stock is owned by institutional investors.

About Chinook Therapeutics

(Get Rating)

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.