Kindred Biosciences Inc (NASDAQ:KIN) Short Interest Update

Kindred Biosciences Inc (NASDAQ:KIN) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 753,000 shares, an increase of 16.2% from the January 15th total of 648,200 shares. Based on an average daily volume of 126,400 shares, the short-interest ratio is presently 6.0 days. Currently, 2.1% of the company’s stock are short sold.

Several hedge funds and other institutional investors have recently bought and sold shares of KIN. BlackRock Inc. boosted its stake in Kindred Biosciences by 21.6% during the 2nd quarter. BlackRock Inc. now owns 2,393,085 shares of the biopharmaceutical company’s stock worth $19,934,000 after purchasing an additional 425,237 shares during the period. Vanguard Group Inc. boosted its stake in Kindred Biosciences by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,708,934 shares of the biopharmaceutical company’s stock worth $14,236,000 after purchasing an additional 30,940 shares during the period. Granahan Investment Management Inc. MA boosted its stake in Kindred Biosciences by 5.8% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 742,274 shares of the biopharmaceutical company’s stock worth $5,085,000 after purchasing an additional 40,997 shares during the period. State Street Corp boosted its stake in Kindred Biosciences by 8.5% during the 4th quarter. State Street Corp now owns 699,702 shares of the biopharmaceutical company’s stock worth $5,933,000 after purchasing an additional 55,013 shares during the period. Finally, Silverback Asset Management LLC boosted its stake in Kindred Biosciences by 6.1% during the 3rd quarter. Silverback Asset Management LLC now owns 540,678 shares of the biopharmaceutical company’s stock worth $3,704,000 after purchasing an additional 31,181 shares during the period. 67.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ KIN traded up $0.15 during mid-day trading on Friday, reaching $9.43. The company had a trading volume of 52,390 shares, compared to its average volume of 149,397. The company has a current ratio of 9.30, a quick ratio of 8.88 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $9.34 and a two-hundred day simple moving average of $8.02. The stock has a market cap of $368.63 million, a P/E ratio of -5.75 and a beta of 0.30. Kindred Biosciences has a 52-week low of $5.96 and a 52-week high of $11.35.

Kindred Biosciences (NASDAQ:KIN) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.02). The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $1.55 million. Kindred Biosciences had a negative net margin of 1,461.28% and a negative return on equity of 58.86%. On average, equities analysts expect that Kindred Biosciences will post -1.58 EPS for the current year.

A number of brokerages have commented on KIN. BidaskClub downgraded shares of Kindred Biosciences from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. ValuEngine raised shares of Kindred Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 3rd. Zacks Investment Research raised shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price (down from $17.50) on shares of Kindred Biosciences in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Kindred Biosciences currently has an average rating of “Buy” and a consensus target price of $13.94.

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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