Renaissance Technologies LLC cut its holdings in Kindred Biosciences Inc (NASDAQ:KIN) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,186,498 shares of the biopharmaceutical company’s stock after selling 35,900 shares during the period. Renaissance Technologies LLC owned about 3.04% of Kindred Biosciences worth $9,884,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of KIN. Dimensional Fund Advisors LP boosted its holdings in shares of Kindred Biosciences by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,382,645 shares of the biopharmaceutical company’s stock valued at $15,140,000 after buying an additional 32,834 shares during the period. BNP Paribas Arbitrage SA lifted its position in Kindred Biosciences by 83,433.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,518 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 7,509 shares during the last quarter. Rhumbline Advisers lifted its position in Kindred Biosciences by 8.7% in the 1st quarter. Rhumbline Advisers now owns 43,318 shares of the biopharmaceutical company’s stock valued at $397,000 after purchasing an additional 3,477 shares during the last quarter. Rubric Capital Management LP bought a new stake in Kindred Biosciences in the 1st quarter valued at about $1,064,000. Finally, Granite Investment Partners LLC lifted its position in Kindred Biosciences by 219.8% in the 1st quarter. Granite Investment Partners LLC now owns 47,505 shares of the biopharmaceutical company’s stock valued at $436,000 after purchasing an additional 32,649 shares during the last quarter. 67.82% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on KIN shares. Zacks Investment Research downgraded shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Kindred Biosciences in a research report on Wednesday, July 31st. ValuEngine downgraded shares of Kindred Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday. Barclays started coverage on shares of Kindred Biosciences in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, BidaskClub upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Kindred Biosciences presently has an average rating of “Buy” and an average price target of $14.28.
Kindred Biosciences (NASDAQ:KIN) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.01). Kindred Biosciences had a negative return on equity of 55.46% and a negative net margin of 1,583.00%. The company had revenue of $1.24 million for the quarter, compared to the consensus estimate of $1.97 million. As a group, sell-side analysts predict that Kindred Biosciences Inc will post -1.52 earnings per share for the current year.
About Kindred Biosciences
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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