Raymond Townsend Sells 3,000 Shares of Kindred Biosciences Inc (KIN) Stock

Kindred Biosciences Inc (NASDAQ:KIN) Director Raymond Townsend sold 3,000 shares of the stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $13.32, for a total transaction of $39,960.00. Following the sale, the director now owns 27,813 shares of the company’s stock, valued at approximately $370,469.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ:KIN traded up $0.25 during trading hours on Thursday, reaching $13.70. 100,500 shares of the company’s stock were exchanged, compared to its average volume of 153,959. The stock has a market cap of $457.99 million, a P/E ratio of -10.92 and a beta of 0.32. Kindred Biosciences Inc has a 1-year low of $6.80 and a 1-year high of $15.75.

Kindred Biosciences (NASDAQ:KIN) last issued its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.01). analysts anticipate that Kindred Biosciences Inc will post -1.51 earnings per share for the current fiscal year.

A number of analysts recently weighed in on KIN shares. ValuEngine upgraded shares of Kindred Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. BidaskClub upgraded shares of Kindred Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 5th. Zacks Investment Research upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. CL King upgraded shares of Kindred Biosciences from a “neutral” rating to a “buy” rating in a research note on Monday, July 9th. Finally, Lake Street Capital started coverage on shares of Kindred Biosciences in a research note on Monday, July 23rd. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Kindred Biosciences has an average rating of “Buy” and a consensus price target of $16.75.

A number of large investors have recently modified their holdings of KIN. New York State Common Retirement Fund raised its position in Kindred Biosciences by 6.2% during the 1st quarter. New York State Common Retirement Fund now owns 243,249 shares of the biopharmaceutical company’s stock worth $2,104,000 after buying an additional 14,285 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Kindred Biosciences by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,365,002 shares of the biopharmaceutical company’s stock worth $11,807,000 after buying an additional 5,587 shares during the last quarter. Citigroup Inc. raised its position in Kindred Biosciences by 2,575.3% during the 1st quarter. Citigroup Inc. now owns 31,007 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 29,848 shares during the last quarter. Sit Investment Associates Inc. purchased a new position in Kindred Biosciences during the 2nd quarter worth $752,000. Finally, Trexquant Investment LP purchased a new position in Kindred Biosciences during the 2nd quarter worth $235,000. Hedge funds and other institutional investors own 62.59% of the company’s stock.

Kindred Biosciences Company Profile

Kindred Biosciences, Inc, a biopharmaceutical company, focuses on the development of therapies for pets. The company's product pipeline includes small molecules and biologics for a range of indications in dogs, cats, and horses. Its lead product candidates comprise Zimeta, a dipyrone injection for the control of pyrexia (fever) in horses; and Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.

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