Swiss National Bank Acquires 5,200 Shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY)

Swiss National Bank lifted its holdings in shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,700 shares of the company’s stock after acquiring an additional 5,200 shares during the period. Swiss National Bank owned approximately 0.15% of Chinook Therapeutics worth $2,586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Frazier Life Sciences Management L.P. grew its position 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 buying an additional 80,000 shares during the period. BlackRock Inc. increased its stake in shares of Chinook Therapeutics by 9.6% during the 3rd quarter. BlackRock Inc. now owns 3,651,299 shares of the company’s stock worth $71,785,000 after purchasing an additional 319,169 shares during the last quarter. State Street Corp raised its holdings in shares of Chinook Therapeutics by 58.8% in the 3rd quarter. State Street Corp now owns 2,465,719 shares of the company’s stock worth $48,476,000 after purchasing an additional 912,778 shares during the period. Point72 Asset Management L.P. lifted its stake in Chinook Therapeutics by 0.9% in 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 purchasing an additional 21,655 shares during the last quarter. Finally, Vanguard Group Inc. grew 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 purchasing an additional 37,190 shares during the period. 93.86% of the stock is owned by hedge funds and other institutional investors.

Chinook Therapeutics Price Performance

NASDAQ KDNY opened at $21.51 on Thursday. The company’s 50 day simple moving average is $21.69 and its two-hundred day simple moving average is $23.06. Chinook Therapeutics, Inc. has a 1 year low of $12.70 and a 1 year high of $27.44. The stock has a market capitalization of $1.44 billion, a PE ratio of -6.74 and a beta of 0.17.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $0.14 million. The business’s revenue for the quarter was down 32.2% compared to the same quarter last year. On average, research analysts anticipate that Chinook Therapeutics, Inc. will post -3.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KDNY. HC Wainwright upped their price target on Chinook Therapeutics from $31.00 to $32.00 in a research report on Wednesday, May 10th. Oppenheimer lifted their target price on shares of Chinook Therapeutics from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 28th. Piper Sandler started coverage on shares of Chinook Therapeutics in a research report on Monday, March 6th. They issued an “overweight” rating and a $41.00 price target on the stock. Finally, Guggenheim cut their price objective on shares of Chinook Therapeutics from $43.00 to $35.00 in a report on Tuesday, May 2nd. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Chinook Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $35.83.

Insider Buying and Selling at Chinook Therapeutics

In other Chinook Therapeutics news, Director Davis Jerel sold 400,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $22.75, for a total transaction of $9,100,000.00. Following the sale, the director now owns 210,996 shares in the company, valued at $4,800,159. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Andrew James King sold 5,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $23.34, for a total transaction of $116,700.00. Following the transaction, the insider now owns 16,992 shares in the company, valued at approximately $396,593.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the director now directly owns 210,996 shares of the company’s stock, valued at approximately $4,800,159. The disclosure for this sale can be found here. Insiders sold a total of 725,532 shares of company stock worth $15,889,581 over the last three months. 23.38% of the stock is owned by insiders.

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.