Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Kindred Biosciences Inc (NASDAQ:KIN) by 39.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,128 shares of the biopharmaceutical company’s stock after selling 14,921 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Kindred Biosciences worth $193,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in KIN. PARK CIRCLE Co bought a new stake in shares of Kindred Biosciences in the 2nd quarter valued at $27,000. Marshall Wace LLP acquired a new stake in Kindred Biosciences in the 1st quarter valued at $53,000. BNP Paribas Arbitrage SA grew its position in Kindred Biosciences by 83,433.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,518 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 7,509 shares during the period. Gabelli Funds LLC acquired a new stake in Kindred Biosciences in the 2nd quarter valued at $108,000. Finally, Aperio Group LLC acquired a new stake in Kindred Biosciences in the 2nd quarter valued at $115,000. Hedge funds and other institutional investors own 67.57% of the company’s stock.
Several analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $19.00 price target on shares of Kindred Biosciences in a research report on Wednesday, July 31st. Barclays began coverage on shares of Kindred Biosciences in a report on Tuesday, June 11th. They set an “overweight” rating and a $13.00 price objective on the stock. Zacks Investment Research downgraded shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus began coverage on shares of Kindred Biosciences in a report on Wednesday, May 22nd. They set a “buy” rating and a $14.00 price objective on the stock. Finally, BidaskClub raised shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $14.28.
Shares of NASDAQ KIN traded up $0.97 during midday trading on Friday, hitting $8.03. 273,380 shares of the company’s stock were exchanged, compared to its average volume of 201,406. Kindred Biosciences Inc has a 12-month low of $5.96 and a 12-month high of $15.11. The company has a current ratio of 11.36, a quick ratio of 10.79 and a debt-to-equity ratio of 0.01. The company has a market cap of $278.51 million, a price-to-earnings ratio of -5.02 and a beta of 0.47. The business’s fifty day moving average price is $7.18 and its two-hundred day moving average price is $8.31.
Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.01). The business had revenue of $1.24 million for the quarter, compared to analysts’ expectations of $1.97 million. Kindred Biosciences had a negative return on equity of 55.46% and a negative net margin of 1,583.00%. Equities analysts expect that Kindred Biosciences Inc will post -1.52 earnings per share for the current fiscal year.
About Kindred Biosciences
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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