BidaskClub Upgrades Kindred Biosciences (KIN) to “Hold”
Kindred Biosciences (NASDAQ:KIN) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
Several other brokerages have also issued reports on KIN. HC Wainwright set a $11.00 price objective on shares of Kindred Biosciences and gave the company a “buy” rating in a report on Friday. Aegis restated a “buy” rating on shares of Kindred Biosciences in a report on Friday, December 15th. ValuEngine lowered shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Zacks Investment Research lowered shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, B. Riley reiterated a “buy” rating and set a $11.00 price target on shares of Kindred Biosciences in a research note on Monday, November 20th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.79.
Shares of Kindred Biosciences (KIN) opened at $9.15 on Friday. The stock has a market cap of $257.93, a PE ratio of -7.44 and a beta of 0.05. Kindred Biosciences has a fifty-two week low of $5.90 and a fifty-two week high of $9.80.
In other Kindred Biosciences news, Director Raymond Townsend sold 6,419 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $9.45, for a total transaction of $60,659.55. Following the sale, the director now directly owns 18,419 shares in the company, valued at $174,059.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.10% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Granahan Investment Management Inc. MA increased its stake in Kindred Biosciences by 35.8% during the third quarter. Granahan Investment Management Inc. MA now owns 86,358 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 22,768 shares during the period. Northern Trust Corp grew its position in shares of Kindred Biosciences by 648.4% during the second quarter. Northern Trust Corp now owns 213,267 shares of the biopharmaceutical company’s stock worth $1,834,000 after buying an additional 184,770 shares in the last quarter. Pacific Grove Capital LP acquired a new position in shares of Kindred Biosciences during the third quarter worth about $1,475,000. TIAA CREF Investment Management LLC acquired a new position in shares of Kindred Biosciences during the second quarter worth about $547,000. Finally, New York State Common Retirement Fund grew its position in shares of Kindred Biosciences by 19.1% during the third quarter. New York State Common Retirement Fund now owns 265,543 shares of the biopharmaceutical company’s stock worth $2,085,000 after buying an additional 42,500 shares in the last quarter. Institutional investors own 66.61% of the company’s stock.
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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