Kindred Biosciences, Inc. (NASDAQ:KIN) insider Richard Chin sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $7.75, for a total value of $100,750.00. Following the sale, the insider now owns 2,310,546 shares in the company, valued at $17,906,731.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Kindred Biosciences, Inc. (NASDAQ:KIN) traded down 5.45% during midday trading on Monday, hitting $7.80. The stock had a trading volume of 37,231 shares. The firm’s 50 day moving average price is $6.93 and its 200 day moving average price is $6.32. The firm’s market cap is $181.82 million. Kindred Biosciences, Inc. has a 52-week low of $3.25 and a 52-week high of $8.10.

Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. On average, equities research analysts expect that Kindred Biosciences, Inc. will post ($1.44) earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in Kindred Biosciences by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock worth $157,000 after buying an additional 4,954 shares in the last quarter. Park West Asset Management LLC boosted its position in Kindred Biosciences by 120.5% in the first quarter. Park West Asset Management LLC now owns 4,386,404 shares of the biopharmaceutical company’s stock worth $30,924,000 after buying an additional 2,397,320 shares in the last quarter. Renaissance Technologies LLC boosted its position in Kindred Biosciences by 43.6% in the first quarter. Renaissance Technologies LLC now owns 504,800 shares of the biopharmaceutical company’s stock worth $3,559,000 after buying an additional 153,200 shares in the last quarter. Morgan Stanley boosted its position in Kindred Biosciences by 12.6% in the first quarter. Morgan Stanley now owns 2,027,560 shares of the biopharmaceutical company’s stock worth $14,294,000 after buying an additional 226,822 shares in the last quarter. Finally, UBS Group AG boosted its position in Kindred Biosciences by 152.7% in the first quarter. UBS Group AG now owns 65,217 shares of the biopharmaceutical company’s stock worth $460,000 after buying an additional 39,411 shares in the last quarter. Hedge funds and other institutional investors own 60.94% of the company’s stock.

A number of brokerages have issued reports on KIN. Zacks Investment Research downgraded Kindred Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. BMO Capital Markets restated a “hold” rating and set a $8.00 price objective on shares of Kindred Biosciences in a research report on Monday, May 15th. ValuEngine upgraded Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Aegis began coverage on Kindred Biosciences in a research report on Friday, June 16th. They set a “buy” rating and a $10.50 price objective on the stock. Finally, FBR & Co began coverage on Kindred Biosciences in a research report on Wednesday, May 24th. They set an “outperform” rating and a $10.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $8.80.

Kindred Biosciences Company Profile

Kindred Biosciences, Inc is a development-stage biopharmaceutical company. The Company is focused on developing therapies for pets. The Company’s product pipeline consists of small molecules and biologics for a range of indications in dogs, cats and horses. The Company is developing product candidates for over 20 indications and focused on small molecule products and canine and feline biologics products.

Insider Buying and Selling by Quarter for Kindred Biosciences (NASDAQ:KIN)

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