Kindred Biosciences, Inc. (NASDAQ:KIN) released its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.04, Bloomberg Earnings reports.

Kindred Biosciences (NASDAQ KIN) traded down 2.381% during mid-day trading on Tuesday, hitting $7.175. The company had a trading volume of 53,320 shares. The company’s 50 day moving average price is $7.85 and its 200-day moving average price is $6.97. Kindred Biosciences has a 12-month low of $3.86 and a 12-month high of $9.65. The firm’s market capitalization is $167.25 million.

Several analysts have issued reports on KIN shares. Zacks Investment Research raised Kindred Biosciences from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Wednesday, May 24th. FBR & Co reissued a “buy” rating on shares of Kindred Biosciences in a research note on Wednesday, May 31st. Aegis started coverage on Kindred Biosciences in a research note on Friday, June 16th. They issued a “buy” rating and a $10.50 price target on the stock. ValuEngine raised Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $8.00 price target on shares of Kindred Biosciences in a research note on Monday, May 15th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Kindred Biosciences presently has a consensus rating of “Buy” and a consensus price target of $8.85.

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In other news, major shareholder Park West Asset Management Llc acquired 600,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was purchased at an average price of $7.50 per share, for a total transaction of $4,500,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard Chin sold 13,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $7.75, for a total transaction of $100,750.00. Following the completion of the sale, the insider now owns 2,310,546 shares of the company’s stock, valued at approximately $17,906,731.50. The disclosure for this sale can be found here. In the last quarter, insiders acquired 770,387 shares of company stock valued at $5,660,987. Company insiders own 19.10% of the company’s stock.

A number of large investors have recently bought and sold shares of KIN. Dimensional Fund Advisors LP raised its stake in Kindred Biosciences by 5,283.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,334,953 shares of the biopharmaceutical company’s stock valued at $5,674,000 after buying an additional 1,310,155 shares during the period. Renaissance Technologies LLC raised its stake in Kindred Biosciences by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 351,600 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 20,000 shares during the period. Acadian Asset Management LLC raised its stake in Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 10,134 shares during the period. Wells Fargo & Company MN raised its stake in Kindred Biosciences by 1.1% in the first quarter. Wells Fargo & Company MN now owns 329,902 shares of the biopharmaceutical company’s stock valued at $2,326,000 after buying an additional 3,550 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Kindred Biosciences during the first quarter valued at approximately $102,000. Hedge funds and other institutional investors own 51.91% of the company’s stock.

About Kindred Biosciences

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.

Earnings History for Kindred Biosciences (NASDAQ:KIN)

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