PDT Partners LLC Purchases New Position in Kindred Biosciences Inc (NASDAQ:KIN)
PDT Partners LLC purchased a new position in shares of Kindred Biosciences Inc (NASDAQ:KIN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,361 shares of the biopharmaceutical company’s stock, valued at approximately $51,000.
Other large investors have also modified their holdings of the company. Citigroup Inc. lifted its stake in Kindred Biosciences by 38.3% in the first quarter. Citigroup Inc. now owns 11,282 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 3,123 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Kindred Biosciences by 123.7% in the first quarter. BNP Paribas Arbitrage SA now owns 11,404 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 6,306 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Kindred Biosciences by 7.5% in the first quarter. Nuveen Asset Management LLC now owns 126,435 shares of the biopharmaceutical company’s stock valued at $505,000 after buying an additional 8,807 shares in the last quarter. SG Americas Securities LLC bought a new position in Kindred Biosciences in the second quarter valued at approximately $90,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Kindred Biosciences by 10.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 63,446 shares of the biopharmaceutical company’s stock worth $285,000 after purchasing an additional 6,219 shares in the last quarter. Institutional investors own 67.06% of the company’s stock.
In other Kindred Biosciences news, major shareholder Park West Asset Management Llc sold 115,136 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $4.71, for a total transaction of $542,290.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.63% of the company’s stock.
Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $0.65 EPS for the quarter. The firm had revenue of $39.57 million for the quarter, compared to the consensus estimate of $19.77 million. Kindred Biosciences had a negative net margin of 69.69% and a negative return on equity of 28.14%. As a group, equities research analysts expect that Kindred Biosciences Inc will post -0.48 earnings per share for the current year.
A number of analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Kindred Biosciences in a research report on Thursday, August 6th. Aegis restated a “buy” rating on shares of Kindred Biosciences in a report on Tuesday, June 2nd. Zacks Investment Research upgraded shares of Kindred Biosciences from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Wednesday, July 8th. Finally, Cantor Fitzgerald lowered their target price on shares of Kindred Biosciences from $25.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $9.38.
Kindred Biosciences Profile
Kindred Biosciences, Inc, a commercial-stage biopharmaceutical company, focusing on developing therapies for pets. Its product pipeline consists of small molecules and biologics for a range of indications in dogs, cats, and horses. The company offers Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
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