Shares of Kindred Biosciences Inc (NASDAQ:KIN) have earned an average rating of “Hold” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $11.00.
Several equities analysts have recently commented on KIN shares. ValuEngine raised shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. B. Riley set a $11.00 price objective on shares of Kindred Biosciences and gave the company a “buy” rating in a research note on Tuesday, December 5th. HC Wainwright set a $10.00 price objective on shares of Kindred Biosciences and gave the company a “buy” rating in a research note on Tuesday, December 5th. Aegis reaffirmed a “buy” rating on shares of Kindred Biosciences in a research note on Friday, December 15th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Kindred Biosciences in a research note on Friday, December 22nd.
KIN stock traded down $0.10 during trading on Wednesday, reaching $8.55. 91,046 shares of the company’s stock traded hands, compared to its average volume of 90,498. The company has a market capitalization of $243.84, a P/E ratio of -6.95 and a beta of 0.05. Kindred Biosciences has a 1-year low of $6.50 and a 1-year high of $9.80.
In other news, Director Raymond Townsend sold 2,670 shares of the company’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $9.45, for a total transaction of $25,231.50. Following the completion of the transaction, the director now directly owns 25,057 shares of the company’s stock, valued at $236,788.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 9,180 shares of company stock valued at $86,751. Insiders own 19.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Granahan Investment Management Inc. MA increased its position in shares of Kindred Biosciences by 35.8% during the third quarter. Granahan Investment Management Inc. MA now owns 86,358 shares of the biopharmaceutical company’s stock valued at $678,000 after buying an additional 22,768 shares during the period. Northern Trust Corp grew its holdings in Kindred Biosciences by 648.4% in the second quarter. Northern Trust Corp now owns 213,267 shares of the biopharmaceutical company’s stock worth $1,834,000 after purchasing an additional 184,770 shares during the period. Pacific Grove Capital LP purchased a new stake in Kindred Biosciences in the third quarter worth about $1,475,000. New York State Common Retirement Fund grew its holdings in Kindred Biosciences by 19.1% in the third quarter. New York State Common Retirement Fund now owns 265,543 shares of the biopharmaceutical company’s stock worth $2,085,000 after purchasing an additional 42,500 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Kindred Biosciences by 2.2% in the third quarter. Wells Fargo & Company MN now owns 337,608 shares of the biopharmaceutical company’s stock worth $2,650,000 after purchasing an additional 7,206 shares during the period. Institutional investors own 64.36% of the company’s stock.
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Kindred Biosciences Company Profile
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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