Granite Investment Partners LLC lifted its stake in Kindred Biosciences Inc (NASDAQ:KIN) by 219.8% in the first quarter, HoldingsChannel reports. The firm owned 47,505 shares of the biopharmaceutical company’s stock after acquiring an additional 32,649 shares during the quarter. Granite Investment Partners LLC’s holdings in Kindred Biosciences were worth $436,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of KIN. The Manufacturers Life Insurance Company boosted its stake in shares of Kindred Biosciences by 21.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 24,739 shares of the biopharmaceutical company’s stock valued at $227,000 after purchasing an additional 4,341 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Kindred Biosciences by 13.3% in the 1st quarter. Northern Trust Corp now owns 422,118 shares of the biopharmaceutical company’s stock valued at $3,871,000 after purchasing an additional 49,549 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Kindred Biosciences by 28.6% in the 1st quarter. Citigroup Inc. now owns 9,810 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 2,181 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Kindred Biosciences by 30.0% in the 1st quarter. State of Wisconsin Investment Board now owns 42,000 shares of the biopharmaceutical company’s stock valued at $385,000 after purchasing an additional 9,700 shares in the last quarter. Finally, Rubric Capital Management LP acquired a new stake in shares of Kindred Biosciences in the 1st quarter valued at $1,064,000. 65.18% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on KIN shares. Cantor Fitzgerald set a $25.00 target price on shares of Kindred Biosciences and gave the company a “buy” rating in a research note on Friday, April 26th. ValuEngine cut Kindred Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. Aegis initiated coverage on Kindred Biosciences in a report on Wednesday, April 10th. They issued a “buy” rating and a $16.00 price target for the company. Lake Street Capital cut their price target on Kindred Biosciences from $30.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Kindred Biosciences in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $15.67.
Kindred Biosciences stock opened at $7.95 on Friday. The company has a quick ratio of 8.70, a current ratio of 9.10 and a debt-to-equity ratio of 0.01. Kindred Biosciences Inc has a 12-month low of $7.56 and a 12-month high of $15.75.
Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.01). The company had revenue of $0.52 million during the quarter, compared to analyst estimates of $1.95 million. On average, analysts predict that Kindred Biosciences Inc will post -1.45 EPS for the current fiscal year.
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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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