Kindred Biosciences, Inc. (NASDAQ:KIN)‘s stock had its “hold” rating reiterated by investment analysts at BMO Capital Markets in a report released on Monday, May 15th, StockTargetPrices.com reports. They presently have a $8.00 price objective on the biopharmaceutical company’s stock. BMO Capital Markets’ price target suggests a potential upside of 12.68% from the company’s current price.
Kindred Biosciences (KIN) traded up 2.16% during mid-day trading on Monday, hitting $7.10. The stock had a trading volume of 344,642 shares. The company’s market capitalization is $165.50 million. The stock’s 50-day moving average is $6.91 and its 200 day moving average is $6.25. Kindred Biosciences has a 52 week low of $3.25 and a 52 week high of $7.55.
Kindred Biosciences (NASDAQ:KIN) last posted its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. Equities analysts forecast that Kindred Biosciences will post ($1.40) earnings per share for the current fiscal year.
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In related news, major shareholder Park West Asset Management Llc acquired 155,076 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average price of $6.83 per share, with a total value of $1,059,169.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake 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 worth $157,000 after buying an additional 4,954 shares during the last quarter. Park West Asset Management LLC raised its stake in shares of Kindred Biosciences by 120.5% in the first quarter. Park West Asset Management LLC now owns 4,386,404 shares of the biopharmaceutical company’s stock worth $30,924,000 after buying an additional 2,397,320 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Kindred Biosciences by 43.6% in the first quarter. Renaissance Technologies LLC now owns 504,800 shares of the biopharmaceutical company’s stock worth $3,559,000 after buying an additional 153,200 shares during the last quarter. Morgan Stanley raised its stake in shares of Kindred Biosciences by 12.6% in the first quarter. Morgan Stanley now owns 2,027,560 shares of the biopharmaceutical company’s stock worth $14,294,000 after buying an additional 226,822 shares during the last quarter. Finally, UBS Group AG raised its stake 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 worth $460,000 after buying an additional 39,411 shares during the last quarter. 70.33% of the stock is currently owned by hedge funds and other 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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