Chinook Therapeutics (NASDAQ:KDNY) Rating Increased to Hold at Zacks Investment Research

Chinook Therapeutics (NASDAQ:KDNY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, reports.

According to Zacks, “Chinook Therapeutics, Inc. is a clinical-stage biotechnology company. It focuses on developing precision medicines for kidney diseases. Chinook Therapeutics, Inc., formerly known as Aduro Biotech Inc., is based in BERKELEY, Calif. “

Separately, Bloom Burton reissued a “buy” rating on shares of Chinook Therapeutics in a research report on Monday, March 22nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $28.29.

Shares of KDNY opened at $14.85 on Friday. Chinook Therapeutics has a fifty-two week low of $10.50 and a fifty-two week high of $21.68. The company’s 50-day moving average is $15.77 and its 200-day moving average is $15.63. The firm has a market capitalization of $629.39 million, a PE ratio of -4.13 and a beta of 0.26.

Chinook Therapeutics (NASDAQ:KDNY) last issued its earnings results on Tuesday, April 6th. The company reported ($1.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.82). Chinook Therapeutics had a negative net margin of 215.80% and a negative return on equity of 112.72%. As a group, sell-side analysts expect that Chinook Therapeutics will post -1.97 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in KDNY. Samsara BioCapital LLC bought a new stake in Chinook Therapeutics in the 4th quarter worth approximately $50,251,000. BlackRock Inc. bought a new position in Chinook Therapeutics in the fourth quarter worth approximately $22,336,000. Orbimed Advisors LLC purchased a new position in Chinook Therapeutics during the fourth quarter valued at $19,825,000. Renaissance Technologies LLC purchased a new position in shares of Chinook Therapeutics during the 4th quarter valued at about $13,260,000. Finally, Baker BROS. Advisors LP purchased a new position in Chinook Therapeutics during the fourth quarter valued at approximately $11,874,000.

About Chinook Therapeutics

Chinook Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of precision medicines for kidney diseases. The company's lead clinical program is atrasentan, a Phase III endothelin receptor antagonist for the treatment of IgA nephropathy and other primary glomerular diseases.

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