Chinook Therapeutics, Inc. (NASDAQ:KDNY) Shares Acquired by Altium Capital Management LP

Altium Capital Management LP grew its stake in Chinook Therapeutics, Inc. (NASDAQ:KDNY) by 102.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 416,567 shares of the company’s stock after purchasing an additional 210,768 shares during the period. Chinook Therapeutics comprises 1.4% of Altium Capital Management LP’s investment portfolio, making the stock its 17th biggest position. Altium Capital Management LP’s holdings in Chinook Therapeutics were worth $5,882,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. International Biotechnology Trust PLC purchased a new position in shares of Chinook Therapeutics in the 2nd quarter valued at about $2,412,000. Millennium Management LLC increased its stake in shares of Chinook Therapeutics by 308.1% in the 1st quarter. Millennium Management LLC now owns 409,487 shares of the company’s stock valued at $6,363,000 after purchasing an additional 309,154 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Chinook Therapeutics in the 2nd quarter valued at about $360,000. Geode Capital Management LLC increased its stake in shares of Chinook Therapeutics by 8.7% in the 1st quarter. Geode Capital Management LLC now owns 446,037 shares of the company’s stock valued at $6,931,000 after purchasing an additional 35,817 shares in the last quarter. Finally, Affinity Asset Advisors LLC increased its stake in shares of Chinook Therapeutics by 14.3% in the 2nd quarter. Affinity Asset Advisors LLC now owns 200,000 shares of the company’s stock valued at $2,824,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 58.50% of the company’s stock.

In other Chinook Therapeutics news, CEO Eric Dobmeier acquired 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 18th. The shares were purchased at an average cost of $11.74 per share, for a total transaction of $82,180.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Davis Jerel sold 850,000 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $14.00, for a total value of $11,900,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 217,500 shares of company stock valued at $2,604,010 and have sold 1,380,000 shares valued at $19,300,000. 29.75% of the stock is currently owned by insiders.

Separately, Zacks Investment Research upgraded Chinook Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 4th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chinook Therapeutics has a consensus rating of “Buy” and an average target price of $28.57.

NASDAQ:KDNY traded up $0.08 during trading hours on Thursday, hitting $12.07. 6,121 shares of the stock were exchanged, compared to its average volume of 253,777. Chinook Therapeutics, Inc. has a 52-week low of $10.95 and a 52-week high of $21.68. The firm’s fifty day moving average price is $12.76 and its 200 day moving average price is $14.47. The company has a market cap of $540.74 million, a P/E ratio of -3.05 and a beta of 0.08.

Chinook Therapeutics (NASDAQ:KDNY) last posted its quarterly earnings data on Thursday, August 12th. The company reported ($0.68) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.08. Chinook Therapeutics had a negative return on equity of 52.69% and a negative net margin of 2,885.36%. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.25 million. As a group, sell-side analysts expect that Chinook Therapeutics, Inc. will post -3.57 earnings per share for the current fiscal year.

About Chinook Therapeutics

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.

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Institutional Ownership by Quarter for Chinook Therapeutics (NASDAQ:KDNY)

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