Shell Asset Management Co. Has $118,000 Stock Holdings in Chinook Therapeutics, Inc. (NASDAQ:KDNY)

Posted by on Mar 2nd, 2023

Shell Asset Management Co. trimmed its holdings in shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,008 shares of the company’s stock after selling 1,608 shares during the quarter. Shell Asset Management Co.’s holdings in Chinook Therapeutics were worth $118,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. New York State Common Retirement Fund increased its position in Chinook Therapeutics by 1.4% during the third quarter. New York State Common Retirement Fund now owns 62,875 shares of the company’s stock worth $1,236,000 after acquiring an additional 862 shares during the period. Amalgamated Bank increased its position in Chinook Therapeutics by 16.1% during the third quarter. Amalgamated Bank now owns 6,442 shares of the company’s stock worth $127,000 after acquiring an additional 892 shares during the period. Martingale Asset Management L P increased its position in Chinook Therapeutics by 3.3% during the second quarter. Martingale Asset Management L P now owns 41,217 shares of the company’s stock worth $721,000 after acquiring an additional 1,300 shares during the period. Point72 Hong Kong Ltd bought a new position in Chinook Therapeutics during the second quarter worth about $33,000. Finally, Northern Trust Corp increased its position in Chinook Therapeutics by 0.6% during the first quarter. Northern Trust Corp now owns 350,290 shares of the company’s stock worth $5,731,000 after acquiring an additional 2,113 shares during the period. 93.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KDNY. Wedbush reaffirmed an “outperform” rating on shares of Chinook Therapeutics in a research report on Friday, November 11th. Oppenheimer raised their target price on shares of Chinook Therapeutics from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company initiated coverage on shares of Chinook Therapeutics in a report on Monday, December 5th. They issued an “overweight” rating and a $30.00 target price on the stock. HC Wainwright decreased their target price on shares of Chinook Therapeutics from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Chinook Therapeutics in a report on Thursday, November 17th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $37.50.

Insider Buying and Selling

In related news, insider Andrew James King sold 2,392 shares of Chinook Therapeutics stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $23.75, for a total transaction of $56,810.00. Following the sale, the insider now directly owns 19,492 shares in the company, valued at approximately $462,935. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Eric Dobmeier sold 8,097 shares of Chinook Therapeutics stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $23.75, for a total transaction of $192,303.75. Following the sale, the chief executive officer now directly owns 301,138 shares in the company, valued at approximately $7,152,027.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andrew James King sold 2,392 shares of Chinook Therapeutics stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $23.75, for a total transaction of $56,810.00. Following the sale, the insider now owns 19,492 shares in the company, valued at $462,935. The disclosure for this sale can be found here. Insiders have sold a total of 70,747 shares of company stock worth $1,743,143 in the last ninety days. Company insiders own 23.38% of the company’s stock.

Chinook Therapeutics Trading Up 5.2 %

KDNY opened at $22.95 on Thursday. The company’s 50 day moving average is $24.75 and its 200-day moving average is $22.62. Chinook Therapeutics, Inc. has a 1-year low of $11.81 and a 1-year high of $27.44. The company has a market cap of $1.47 billion, a P/E ratio of -7.97 and a beta of 0.06.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.13). Chinook Therapeutics had a negative net margin of 3,065.68% and a negative return on equity of 40.01%. The company had revenue of $5.10 million during the quarter, compared to analyst estimates of $0.10 million. The business’s quarterly revenue was down 90.0% on a year-over-year basis. On average, equities analysts forecast that Chinook Therapeutics, Inc. will post -2.95 EPS for the current year.

Chinook Therapeutics Profile

(Get Rating)

Chinook Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in discovering, developing, and commercializing precision medicines for rare, severe chronic kidney diseases. The company was founded in 2019 and is headquartered in Seattle, WA.

Featured Stories

Institutional Ownership by Quarter for Chinook Therapeutics (NASDAQ:KDNY)

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.