Kindred Biosciences (KIN) Hits New 12-Month High and Low at $11.30

Kindred Biosciences Inc (NASDAQ:KIN) hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $11.30 and last traded at $11.55, with a volume of 10686 shares traded. The stock had previously closed at $10.90.

A number of brokerages have recently issued reports on KIN. BidaskClub raised Kindred Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 5th. ValuEngine raised Kindred Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 2nd. EuroPacific Canada began coverage on Kindred Biosciences in a research report on Wednesday, May 23rd. They set a “buy” rating and a $16.75 target price on the stock. Zacks Investment Research lowered Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 12th. Finally, HC Wainwright boosted their target price on Kindred Biosciences to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Kindred Biosciences presently has an average rating of “Buy” and an average target price of $11.70.

The firm has a market cap of $287.67 million, a price-to-earnings ratio of -9.35 and a beta of 0.11.

Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.36). research analysts expect that Kindred Biosciences Inc will post -1.58 earnings per share for the current year.

In other news, Director Raymond Townsend sold 2,670 shares of Kindred Biosciences stock in a transaction on Friday, March 16th. The stock was sold at an average price of $9.45, for a total transaction of $25,231.50. Following the transaction, the director now owns 25,057 shares in the company, valued at $236,788.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Chin sold 40,000 shares of Kindred Biosciences stock in a transaction on Friday, June 1st. The shares were sold at an average price of $10.13, for a total value of $405,200.00. Following the transaction, the chief executive officer now owns 2,226,071 shares in the company, valued at approximately $22,550,099.23. The disclosure for this sale can be found here. Insiders have sold 104,400 shares of company stock worth $996,568 in the last quarter. 15.96% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Citigroup Inc. grew its holdings in shares of Kindred Biosciences by 2,575.3% during the first quarter. Citigroup Inc. now owns 31,007 shares of the biopharmaceutical company’s stock valued at $268,000 after buying an additional 29,848 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Kindred Biosciences by 18.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 42,100 shares of the biopharmaceutical company’s stock valued at $398,000 after buying an additional 6,600 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Kindred Biosciences by 12.1% during the fourth quarter. Bank of New York Mellon Corp now owns 83,543 shares of the biopharmaceutical company’s stock valued at $789,000 after buying an additional 8,995 shares in the last quarter. B. Riley Financial Inc. purchased a new position in shares of Kindred Biosciences during the first quarter valued at $1,120,000. Finally, New York State Common Retirement Fund grew its stake in Kindred Biosciences by 6.2% in the first quarter. New York State Common Retirement Fund now owns 243,249 shares of the biopharmaceutical company’s stock valued at $2,104,000 after purchasing an additional 14,285 shares in the last quarter. Institutional investors and hedge funds own 62.62% of the company’s stock.

About Kindred Biosciences

Kindred Biosciences, Inc, a biopharmaceutical company, focuses on the development of therapies for pets. The company's product pipeline includes small molecules and biologics for a range of indications in dogs, cats, and horses. Its lead product candidates comprise Zimeta, a dipyrone injection for the control of pyrexia (fever) in horses; and Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.

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