Chinook Therapeutics (NASDAQ:KDNY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
According to Zacks, “Chinook Therapeutics, Inc. is a clinical-stage biotechnology company. It focuses on developing precision medicines for kidney diseases. Chinook Therapeutics, Inc., formerly known as Aduro Biotech Inc., is based in BERKELEY, Calif. “
Other equities analysts have also issued reports about the company. Wedbush started coverage on Chinook Therapeutics in a research note on Wednesday, January 6th. They issued an “outperform” rating and a $28.00 target price on the stock. Bloom Burton restated a “buy” rating on shares of Chinook Therapeutics in a research note on Monday, March 22nd. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.29.
Chinook Therapeutics (NASDAQ:KDNY) last issued its quarterly earnings data on Tuesday, April 6th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.82). Chinook Therapeutics had a negative return on equity of 112.72% and a negative net margin of 215.80%. As a group, research analysts predict that Chinook Therapeutics will post -1.97 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. bought a new position in shares of Chinook Therapeutics during the 4th quarter valued at about $27,000. Strs Ohio bought a new position in Chinook Therapeutics during the 4th quarter worth approximately $50,000. Citigroup Inc. bought a new position in Chinook Therapeutics during the 4th quarter worth approximately $62,000. American International Group Inc. bought a new position in Chinook Therapeutics during the 4th quarter worth approximately $122,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Chinook Therapeutics during the 4th quarter worth approximately $159,000.
About Chinook Therapeutics
Chinook Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of precision medicines for kidney diseases. The company's lead clinical program is atrasentan, an investigational Phase III ready endothelin receptor antagonist for the treatment of IgA nephropathy and other primary glomerular diseases.
Read More: No Load Funds
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chinook Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chinook Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.