Kindred Biosciences, Inc. (KIN) Short Interest Down 29.0% in July
Kindred Biosciences, Inc. (NASDAQ:KIN) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 714,173 shares, a drop of 29.0% from the July 14th total of 1,005,956 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 242,575 shares, the days-to-cover ratio is presently 2.9 days.
Several equities research analysts recently weighed in on the company. FBR & Co assumed coverage on Kindred Biosciences in a research report on Wednesday, May 24th. They set an “outperform” rating and a $10.00 price target on the stock. Zacks Investment Research upgraded Kindred Biosciences from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research report on Friday, June 2nd. Aegis assumed coverage on Kindred Biosciences in a research report on Friday, June 16th. They set a “buy” rating and a $10.50 price target on the stock. ValuEngine upgraded Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BMO Capital Markets restated a “hold” rating and set a $8.00 price target on shares of Kindred Biosciences in a research report on Monday, May 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $8.85.
Shares of Kindred Biosciences (NASDAQ:KIN) opened at 7.10 on Monday. Kindred Biosciences has a 52-week low of $3.90 and a 52-week high of $9.65. The company’s market capitalization is $197.64 million. The company’s 50 day moving average price is $7.83 and its 200 day moving average price is $7.00.
Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. On average, analysts predict that Kindred Biosciences will post ($1.27) EPS for the current year.
In other news, insider Richard Chin sold 13,000 shares of Kindred Biosciences stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $7.75, for a total value of $100,750.00. Following the sale, the insider now directly owns 2,310,546 shares in the company, valued at approximately $17,906,731.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Park West Asset Management Llc acquired 600,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was acquired at an average price of $7.50 per share, for a total transaction of $4,500,000.00. The disclosure for this purchase can be found here. 19.10% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of KIN. Nationwide Fund Advisors acquired a new stake in shares of Kindred Biosciences during the second quarter valued at approximately $100,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Kindred Biosciences during the first quarter valued at approximately $102,000. JPMorgan Chase & Co. acquired a new stake in shares of Kindred Biosciences during the second quarter valued at approximately $119,000. Trexquant Investment LP acquired a new stake in shares of Kindred Biosciences during the second quarter valued at approximately $120,000. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Kindred Biosciences during the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 51.91% of the company’s stock.
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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.
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