Versor Investments LP Takes $13.39 Million Position in Chinook Therapeutics, Inc. (NASDAQ:KDNY)

Versor Investments LP bought a new stake in shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 348,543 shares of the company’s stock, valued at approximately $13,391,000. Chinook Therapeutics accounts for about 2.3% of Versor Investments LP’s portfolio, making the stock its 12th largest position. Versor Investments LP owned approximately 0.52% of Chinook Therapeutics as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Chinook Therapeutics by 2.3% in the 1st quarter. JPMorgan Chase & Co. now owns 133,150 shares of the company’s stock worth $2,178,000 after purchasing an additional 2,985 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Chinook Therapeutics by 8.3% in the 1st quarter. Bank of New York Mellon Corp now owns 153,310 shares of the company’s stock worth $2,508,000 after purchasing an additional 11,759 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Chinook Therapeutics by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 19,839 shares of the company’s stock worth $325,000 after purchasing an additional 7,322 shares in the last quarter. Rhumbline Advisers lifted its stake in Chinook Therapeutics by 9.5% in the 1st quarter. Rhumbline Advisers now owns 50,184 shares of the company’s stock worth $821,000 after purchasing an additional 4,362 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Chinook Therapeutics by 2.2% in the 1st quarter. BlackRock Inc. now owns 3,054,997 shares of the company’s stock worth $49,980,000 after purchasing an additional 67,066 shares in the last quarter. 95.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chinook Therapeutics

In other news, insider Andrew James King sold 1,168 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $39.03, for a total value of $45,587.04. Following the transaction, the insider now owns 19,157 shares of the company’s stock, valued at approximately $747,697.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.79% of the stock is owned by company insiders.

Chinook Therapeutics Stock Up 0.2 %

Shares of KDNY traded up $0.09 during mid-day trading on Monday, reaching $40.39. 4,924,900 shares of the company’s stock were exchanged, compared to its average volume of 1,186,257. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -11.47 and a beta of 0.34. The company has a 50-day simple moving average of $39.82 and a two-hundred day simple moving average of $30.12. Chinook Therapeutics, Inc. has a 52-week low of $18.34 and a 52-week high of $40.51.

Chinook Therapeutics (NASDAQ:KDNY) last announced its quarterly earnings results on Monday, August 7th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.13). The company had revenue of $1.01 million during the quarter, compared to analyst estimates of $0.47 million. Chinook Therapeutics had a negative net margin of 4,199.93% and a negative return on equity of 58.28%. As a group, equities research analysts predict that Chinook Therapeutics, Inc. will post -3.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bloom Burton downgraded shares of Chinook Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, June 12th. SVB Leerink cut shares of Chinook Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 13th. Stifel Nicolaus cut shares of Chinook Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Guggenheim cut shares of Chinook Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, June 12th. Finally, Evercore ISI cut shares of Chinook Therapeutics to an “outperform” rating in a report on Wednesday, June 14th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Chinook Therapeutics currently has an average rating of “Hold” and an average target price of $38.14.

About Chinook Therapeutics

Chinook Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of precision medicines for kidney diseases. The company's lead clinical program is atrasentan, a Phase III endothelin receptor antagonist for the treatment of IgA nephropathy and other proteinuric glomerular diseases.