Chinook Therapeutics, Inc. (NASDAQ:KDNY) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its holdings in shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) by 40.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,195 shares of the company’s stock after selling 53,812 shares during the period. Citigroup Inc. owned 0.12% of Chinook Therapeutics worth $2,049,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KDNY. Frazier Life Sciences Management L.P. increased its position in shares of Chinook Therapeutics by 1.9% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 4,345,559 shares of the company’s stock valued at $113,854,000 after acquiring an additional 80,000 shares during the period. BlackRock Inc. increased its position in shares of Chinook Therapeutics by 9.6% in the 3rd quarter. BlackRock Inc. now owns 3,651,299 shares of the company’s stock valued at $71,785,000 after acquiring an additional 319,169 shares during the period. State Street Corp increased its position in shares of Chinook Therapeutics by 58.8% in the 3rd 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 during the period. Point72 Asset Management L.P. increased its position in shares of Chinook Therapeutics by 0.9% in the 3rd 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 during the period. Finally, Vanguard Group Inc. increased its position in shares of Chinook Therapeutics by 1.6% in the 3rd 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 during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KDNY has been the topic of several analyst reports. Oppenheimer increased their price target on Chinook Therapeutics from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 28th. HC Wainwright increased their price target on Chinook Therapeutics from $31.00 to $32.00 in a research report on Wednesday, May 10th. Piper Sandler initiated coverage on Chinook Therapeutics in a research report on Monday, March 6th. They set an “overweight” rating and a $41.00 price target on the stock. Finally, Guggenheim cut their price target on Chinook Therapeutics from $43.00 to $35.00 in a research report on Tuesday, May 2nd. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $35.83.

Chinook Therapeutics Stock Up 0.2 %

KDNY stock opened at $21.56 on Friday. The company’s 50-day simple moving average is $21.67 and its 200-day simple moving average is $23.05. Chinook Therapeutics, Inc. has a 52-week low of $13.34 and a 52-week high of $27.44. The firm has a market cap of $1.44 billion, a P/E ratio of -6.76 and a beta of 0.17.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last posted its earnings results on Tuesday, May 9th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.03). The firm had revenue of $1.83 million for the quarter, compared to analysts’ expectations of $0.14 million. Chinook Therapeutics had a negative return on equity of 47.13% and a negative net margin of 4,114.05%. Chinook Therapeutics’s quarterly revenue was down 32.2% on a year-over-year basis. On average, analysts anticipate that Chinook Therapeutics, Inc. will post -3.24 earnings per share for the current fiscal year.

Insider Activity at Chinook Therapeutics

In related news, Director Davis Jerel sold 400,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $22.75, for a total value of $9,100,000.00. Following the transaction, the director now directly owns 210,996 shares of the company’s stock, valued at approximately $4,800,159. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Chinook Therapeutics news, Director Davis Jerel sold 400,000 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $22.75, for a total value of $9,100,000.00. Following the completion of the sale, the director now owns 210,996 shares in the company, valued at approximately $4,800,159. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew James King sold 5,000 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $23.34, for a total transaction of $116,700.00. Following the completion of the sale, the insider now owns 16,992 shares of the company’s stock, valued at approximately $396,593.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 725,532 shares of company stock valued at $15,889,581. 23.38% of the stock is owned by corporate insiders.

Chinook Therapeutics Company Profile

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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.