Fisher Asset Management LLC Sells 7,004 Shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY)

Posted by on Apr 29th, 2023

Fisher Asset Management LLC decreased its position in Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) by 13.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 44,003 shares of the company’s stock after selling 7,004 shares during the period. Fisher Asset Management LLC owned about 0.07% of Chinook Therapeutics worth $1,153,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Chinook Therapeutics by 9.6% in the third quarter. BlackRock Inc. now owns 3,651,299 shares of the company’s stock worth $71,785,000 after purchasing an additional 319,169 shares during the last quarter. State Street Corp boosted its holdings in Chinook Therapeutics by 58.8% in the third quarter. State Street Corp now owns 2,465,719 shares of the company’s stock valued at $48,476,000 after acquiring an additional 912,778 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Chinook Therapeutics by 0.9% in the third quarter. Point72 Asset Management L.P. now owns 2,440,754 shares of the company’s stock valued at $47,985,000 after acquiring an additional 21,655 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Chinook Therapeutics by 1.6% in the third quarter. Vanguard Group Inc. now owns 2,399,766 shares of the company’s stock valued at $47,180,000 after acquiring an additional 37,190 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Chinook Therapeutics by 34.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,431,394 shares of the company’s stock valued at $28,141,000 after acquiring an additional 369,512 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KDNY. Oppenheimer lifted their price target on shares of Chinook Therapeutics from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, February 28th. Guggenheim began coverage on shares of Chinook Therapeutics in a report on Tuesday, February 28th. They issued a “buy” rating and a $43.00 price target on the stock. HC Wainwright lowered their price objective on Chinook Therapeutics from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. Finally, Piper Sandler began coverage on Chinook Therapeutics in a research report on Monday, March 6th. They set an “overweight” rating and a $41.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $38.00.

Insiders Place Their Bets

In other Chinook Therapeutics news, Director Davis Jerel sold 295,808 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $20.75, for a total value of $6,138,016.00. Following the completion of the transaction, the director now owns 443,713 shares of the company’s stock, valued at approximately $9,207,044.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Chinook Therapeutics news, insider Andrew James King sold 3,244 shares of the business’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $24.68, for a total transaction of $80,061.92. Following the completion of the sale, the insider now directly owns 15,081 shares in the company, valued at approximately $372,199.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Davis Jerel sold 295,808 shares of the business’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $20.75, for a total value of $6,138,016.00. Following the sale, the director now owns 443,713 shares of the company’s stock, valued at $9,207,044.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 776,279 shares of company stock valued at $17,124,524. 23.38% of the stock is owned by insiders.

Chinook Therapeutics Price Performance

KDNY opened at $20.01 on Friday. The stock has a 50-day moving average price of $22.16 and a 200-day moving average price of $22.98. The firm has a market cap of $1.32 billion, a PE ratio of -6.95 and a beta of 0.19. Chinook Therapeutics, Inc. has a 1 year low of $12.41 and a 1 year high of $27.44.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.13). The company had revenue of $5.10 million during the quarter, compared to analysts’ expectations of $0.10 million. Chinook Therapeutics had a negative return on equity of 40.61% and a negative net margin of 3,065.68%. The firm’s revenue was down 90.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Chinook Therapeutics, Inc. will post -3.19 EPS for the current year.

About Chinook Therapeutics

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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.

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

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