Granite Investment Partners LLC cut its stake in shares of Kindred Biosciences, Inc. (NASDAQ:KIN) by 4.6% during the second quarter, Holdings Channel reports. The fund owned 140,376 shares of the biopharmaceutical company’s stock after selling 6,766 shares during the period. Granite Investment Partners LLC’s holdings in Kindred Biosciences were worth $1,207,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KIN. Renaissance Technologies LLC raised its position in Kindred Biosciences by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 351,600 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Kindred Biosciences by 5,283.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,334,953 shares of the biopharmaceutical company’s stock valued at $5,674,000 after buying an additional 1,310,155 shares during the last quarter. Morgan Stanley raised its position in Kindred Biosciences by 12.6% in the first quarter. Morgan Stanley now owns 2,027,560 shares of the biopharmaceutical company’s stock valued at $14,294,000 after buying an additional 226,822 shares during the last quarter. Park West Asset Management LLC raised its position in 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 valued at $30,924,000 after buying an additional 2,397,320 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in 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 during the last quarter. Institutional investors own 51.91% of the company’s stock.

Kindred Biosciences, Inc. (NASDAQ:KIN) opened at 7.10 on Friday. Kindred Biosciences, Inc. has a one year low of $3.90 and a one year high of $9.65. The firm’s market capitalization is $197.64 million. The stock has a 50 day moving average of $7.83 and a 200 day moving average of $7.00.

Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. Analysts forecast that Kindred Biosciences, Inc. will post ($1.27) earnings per share for the current year.

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Several equities analysts have weighed in on KIN shares. BMO Capital Markets reiterated a “hold” rating and issued a $8.00 target price on shares of Kindred Biosciences in a report on Friday, May 5th. FBR & Co reiterated a “buy” rating on shares of Kindred Biosciences in a report on Wednesday, May 31st. Aegis started coverage on shares of Kindred Biosciences in a report on Friday, June 16th. They issued a “buy” rating and a $10.50 target price on the stock. Zacks Investment Research upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Thursday, August 3rd. Finally, ValuEngine upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $8.85.

In related news, major shareholder Park West Asset Management Llc bought 15,311 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average cost of $6.65 per share, for a total transaction of $101,818.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Chin sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $8.26, for a total transaction of $107,380.00. Following the completion of the sale, the insider now owns 2,297,546 shares of the company’s stock, valued at $18,977,729.96. The disclosure for this sale can be found here. Insiders own 19.10% of the company’s stock.

About Kindred Biosciences

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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Institutional Ownership by Quarter for Kindred Biosciences (NASDAQ:KIN)

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