Renaissance Technologies LLC boosted its stake in shares of Kindred Biosciences, Inc. (NASDAQ:KIN) by 43.6% during the first quarter, Holdings Channel reports. The fund owned 504,800 shares of the biopharmaceutical company’s stock after buying an additional 153,200 shares during the period. Renaissance Technologies LLC’s holdings in Kindred Biosciences were worth $3,559,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Kindred Biosciences during the first quarter valued at $102,000. Acadian Asset Management LLC increased its stake in Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 10,134 shares during the last quarter. UBS Group AG increased its stake in Kindred Biosciences by 152.7% in the first quarter. UBS Group AG now owns 65,217 shares of the biopharmaceutical company’s stock valued at $460,000 after buying an additional 39,411 shares during the last quarter. Wells Fargo & Company MN increased its stake in Kindred Biosciences by 1.1% in the first quarter. Wells Fargo & Company MN now owns 329,902 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Kindred Biosciences by 5,283.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,334,953 shares of the biopharmaceutical company’s stock valued at $5,674,000 after buying an additional 1,310,155 shares during the last quarter. 51.91% of the stock is owned by institutional investors and hedge funds.
Kindred Biosciences, Inc. (NASDAQ KIN) remained flat at $7.10 during midday trading on Thursday. The company had a trading volume of 2,725 shares. Kindred Biosciences, Inc. has a 1-year low of $3.90 and a 1-year high of $9.65. The stock has a 50 day moving average of $7.88 and a 200-day moving average of $7.00. The company’s market capitalization is $197.64 million.
Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.04. Equities research analysts anticipate that Kindred Biosciences, Inc. will post ($1.27) EPS for the current year.
Several research firms have recently weighed in on KIN. Zacks Investment Research raised Kindred Biosciences from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a report on Thursday, August 3rd. BMO Capital Markets restated a “hold” rating and set a $8.00 price target on shares of Kindred Biosciences in a research note on Monday, May 15th. FBR & Co restated a “buy” rating on shares of Kindred Biosciences in a research note on Wednesday, May 31st. Aegis began coverage on Kindred Biosciences in a research note on Friday, June 16th. They set a “buy” rating and a $10.50 price target for the company. Finally, ValuEngine upgraded Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $8.85.
In related news, major shareholder Park West Asset Management Llc acquired 15,311 shares of Kindred Biosciences stock in a transaction that occurred on Thursday, June 8th. The stock was acquired at an average price of $6.65 per share, for a total transaction of $101,818.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard Chin sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $8.26, for a total value of $107,380.00. Following the transaction, the insider now owns 2,297,546 shares of the company’s stock, valued at approximately $18,977,729.96. The disclosure for this sale can be found here. Insiders own 19.10% of the company’s stock.
About Kindred Biosciences
Kindred Biosciences, Inc is a development-stage biopharmaceutical company. The Company is focused on developing therapies for pets. The Company’s product pipeline consists of small molecules and biologics for a range of indications in dogs, cats and horses. The Company is developing product candidates for over 20 indications and focused on small molecule products and canine and feline biologics products.
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