Kindred Biosciences Inc (NASDAQ:KIN)‘s stock had its “hold” rating reaffirmed by research analysts at BMO Capital Markets in a report released on Friday, May 5th. They currently have a $8.00 target price on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective points to a potential upside of 14.29% from the company’s current price.
Shares of Kindred Biosciences (NASDAQ:KIN) remained flat at $7.00 during midday trading on Friday. The company’s stock had a trading volume of 112,064 shares. The firm has a 50-day moving average price of $7.01 and a 200 day moving average price of $5.95. The firm’s market capitalization is $163.17 million. Kindred Biosciences has a 1-year low of $3.25 and a 1-year high of $7.55.
Kindred Biosciences (NASDAQ:KIN) last issued its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.04. On average, analysts expect that Kindred Biosciences will post ($1.40) earnings per share for the current fiscal year.
In other Kindred Biosciences news, major shareholder Park West Asset Management Llc bought 18,066 shares of Kindred Biosciences stock in a transaction on Thursday, March 9th. The shares were purchased at an average price of $6.08 per share, with a total value of $109,841.28. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 577,342 shares of company stock worth $3,835,050. Company insiders own 19.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Kindred Biosciences during the first quarter valued at about $102,000. Goldman Sachs Group Inc. raised its position in shares of Kindred Biosciences by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 4,954 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of 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 in the last quarter. UBS Group AG raised its position in shares of 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Kindred Biosciences by 6.3% in the first quarter. Geode Capital Management LLC now owns 69,025 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 4,081 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors.
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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