Kindred Biosciences, Inc. (NASDAQ:KIN) major shareholder Park West Asset Management Llc purchased 1,690,000 shares of the firm’s stock in a transaction that occurred on Friday, January 13th. The shares were acquired at an average price of $6.20 per share, with a total value of $10,478,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Park West Asset Management Llc also recently made the following trade(s):
Kindred Biosciences, Inc. (NASDAQ:KIN) remained flat at $6.50 during mid-day trading on Wednesday. The company’s stock had a trading volume of 53,636 shares. The firm’s market capitalization is $129.29 million. The stock’s 50-day moving average is $4.92 and its 200-day moving average is $4.63. Kindred Biosciences, Inc. has a 12 month low of $2.90 and a 12 month high of $7.10.
Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.05. On average, equities analysts forecast that Kindred Biosciences, Inc. will post ($1.19) earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. BlackRock Fund Advisors raised its stake in shares of Kindred Biosciences by 31.9% in the second quarter. BlackRock Fund Advisors now owns 42,936 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 10,390 shares during the period. Prudential Financial Inc. raised its stake in Kindred Biosciences by 7.2% in the third quarter. Prudential Financial Inc. now owns 59,700 shares of the biopharmaceutical company’s stock valued at $297,000 after buying an additional 4,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Kindred Biosciences by 1.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,525 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 800 shares during the last quarter. Bridgeway Capital Management Inc. acquired a new stake in Kindred Biosciences during the second quarter valued at $284,000. Finally, Wells Fargo & Company MN raised its stake in Kindred Biosciences by 6,913.3% in the third quarter. Wells Fargo & Company MN now owns 209,627 shares of the biopharmaceutical company’s stock valued at $1,046,000 after buying an additional 206,638 shares during the last quarter. Institutional investors and hedge funds own 64.45% of the company’s stock.
Several analysts have recently commented on the stock. Ladenburg Thalmann assumed coverage on shares of Kindred Biosciences in a research note on Tuesday, November 1st. They issued a “buy” rating and a $7.50 target price for the company. Zacks Investment Research cut shares of Kindred Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Finally, Feltl & Co. restated a “strong-buy” rating on shares of Kindred Biosciences in a research note on Tuesday, January 3rd.
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.