FY2023 EPS Estimates for Chinook Therapeutics, Inc. Decreased by Bloom Burton (NASDAQ:KDNY)

Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) – Equities researchers at Bloom Burton cut their FY2023 earnings estimates for shares of Chinook Therapeutics in a research note issued to investors on Monday, May 22nd. Bloom Burton analyst A. Borovina now anticipates that the company will post earnings of ($3.33) per share for the year, down from their previous estimate of ($3.15). The consensus estimate for Chinook Therapeutics’ current full-year earnings is ($3.22) per share. Bloom Burton also issued estimates for Chinook Therapeutics’ FY2024 earnings at ($3.29) EPS.

Other research analysts have also issued reports about the stock. Oppenheimer upped their target price on shares of Chinook Therapeutics from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, February 28th. Piper Sandler initiated coverage on shares of Chinook Therapeutics in a report on Monday, March 6th. They issued an “overweight” rating and a $41.00 target price on the stock. Guggenheim dropped their price objective on shares of Chinook Therapeutics from $43.00 to $35.00 in a research note on Tuesday, May 2nd. Finally, HC Wainwright upped their price objective on shares of Chinook Therapeutics from $31.00 to $32.00 in a research note on Wednesday, May 10th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $35.83.

Chinook Therapeutics Trading Down 0.1 %

NASDAQ:KDNY opened at $21.51 on Wednesday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -6.74 and a beta of 0.17. The company’s 50-day moving average is $21.69 and its two-hundred day moving average is $23.06. Chinook Therapeutics has a 12-month low of $12.70 and a 12-month high of $27.44.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.03). Chinook Therapeutics had a negative return on equity of 47.13% and a negative net margin of 4,114.05%. The business had revenue of $1.83 million during the quarter, compared to analysts’ expectations of $0.14 million. The company’s revenue was down 32.2% on a year-over-year basis.

Insider Buying and Selling

In other Chinook Therapeutics news, CEO Eric Dobmeier sold 23,800 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $21.58, for a total value of $513,604.00. Following the completion of the sale, the chief executive officer now owns 302,338 shares of the company’s stock, valued at $6,524,454.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chinook Therapeutics news, CEO Eric Dobmeier sold 23,800 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $21.58, for a total value of $513,604.00. Following the completion of the sale, the chief executive officer now owns 302,338 shares of the company’s stock, valued at $6,524,454.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Davis Jerel sold 295,808 shares of the stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $20.75, for a total value of $6,138,016.00. Following the transaction, the director now owns 443,713 shares of the company’s stock, valued at $9,207,044.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 725,532 shares of company stock valued at $15,889,581. 23.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chinook Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Hudson Bay Capital Management LP acquired a new position in Chinook Therapeutics in the first quarter worth $1,426,000. State Street Corp boosted its holdings in Chinook Therapeutics by 1.1% in the first quarter. State Street Corp now owns 2,688,048 shares of the company’s stock worth $62,228,000 after purchasing an additional 29,092 shares during the period. Saturn V Capital Management LLC boosted its holdings in Chinook Therapeutics by 19.8% in the first quarter. Saturn V Capital Management LLC now owns 506,818 shares of the company’s stock worth $11,733,000 after purchasing an additional 83,641 shares during the period. Geode Capital Management LLC boosted its holdings in Chinook Therapeutics by 3.8% in the first quarter. Geode Capital Management LLC now owns 948,551 shares of the company’s stock worth $21,959,000 after purchasing an additional 34,325 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Chinook Therapeutics by 5.9% in the first quarter. AQR Capital Management LLC now owns 17,166 shares of the company’s stock worth $397,000 after purchasing an additional 959 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Chinook Therapeutics Company 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.