Kindred Biosciences Inc (NASDAQ:KIN) major shareholder Park West Asset Management Llc bought 741,840 shares of the firm’s stock in a transaction dated Friday, January 18th. The shares were acquired at an average price of $9.50 per share, for a total transaction of $7,047,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Kindred Biosciences stock traded down $0.18 on Wednesday, reaching $9.94. The company had a trading volume of 5,240 shares, compared to its average volume of 165,905. The company has a market capitalization of $334.05 million, a price-to-earnings ratio of -8.09 and a beta of 0.54. Kindred Biosciences Inc has a 52-week low of $7.55 and a 52-week high of $15.75.
Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The business had revenue of $0.64 million during the quarter. As a group, equities research analysts forecast that Kindred Biosciences Inc will post -1.59 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in Kindred Biosciences in the 4th quarter valued at $1,861,000. Strs Ohio raised its position in Kindred Biosciences by 36.1% during the 4th quarter. Strs Ohio now owns 39,500 shares of the biopharmaceutical company’s stock worth $432,000 after buying an additional 10,483 shares during the last quarter. Meeder Asset Management Inc. raised its position in Kindred Biosciences by 17.5% during the 4th quarter. Meeder Asset Management Inc. now owns 10,216 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 1,518 shares during the last quarter. Grassi Investment Management acquired a new position in shares of Kindred Biosciences during the 4th quarter worth $126,000. Finally, Legal & General Group Plc grew its stake in shares of Kindred Biosciences by 24.6% during the 3rd quarter. Legal & General Group Plc now owns 4,659 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 920 shares during the period. Institutional investors and hedge funds own 66.47% of the company’s stock.
A number of equities analysts have commented on the stock. BidaskClub downgraded shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research cut shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Tuesday, November 13th. Cantor Fitzgerald set a $25.00 price target on shares of Kindred Biosciences and gave the stock a “buy” rating in a report on Monday, January 14th. Finally, HC Wainwright set a $19.00 price target on shares of Kindred Biosciences and gave the stock a “buy” rating in a report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.35.
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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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