Chinook Therapeutics, Inc. (NASDAQ:KDNY) Expected to Post Earnings of -$0.68 Per Share

Brokerages expect Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) to announce earnings per share (EPS) of ($0.68) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Chinook Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.74) and the highest estimate coming in at ($0.61). Chinook Therapeutics reported earnings per share of ($0.83) in the same quarter last year, which suggests a positive year over year growth rate of 18.1%. The business is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Chinook Therapeutics will report full-year earnings of ($3.04) per share for the current fiscal year, with EPS estimates ranging from ($3.30) to ($2.81). For the next fiscal year, analysts expect that the firm will post earnings of ($3.21) per share, with EPS estimates ranging from ($3.81) to ($2.98). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Chinook Therapeutics.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last issued its quarterly earnings data on Thursday, March 17th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.82. Chinook Therapeutics had a negative net margin of 199.39% and a negative return on equity of 26.45%.

Separately, Zacks Investment Research cut shares of Chinook Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, March 22nd.

In related news, COO Tom Frohlich sold 3,735 shares of the business’s stock in a transaction dated Friday, February 11th. The stock was sold at an average price of $12.74, for a total value of $47,583.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew James King sold 2,500 shares of the company’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $13.31, for a total transaction of $33,275.00. The disclosure for this sale can be found here. In the last three months, insiders sold 14,630 shares of company stock valued at $201,561. Insiders own 29.75% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Morgan Stanley boosted its position in shares of Chinook Therapeutics by 5,323.7% during the second quarter. Morgan Stanley now owns 67,145 shares of the company’s stock valued at $948,000 after buying an additional 65,907 shares during the last quarter. Royal Bank of Canada lifted its stake in Chinook Therapeutics by 193.7% during the 2nd quarter. Royal Bank of Canada now owns 2,182 shares of the company’s stock valued at $30,000 after acquiring an additional 1,439 shares in the last quarter. Invesco Ltd. bought a new position in Chinook Therapeutics during the 2nd quarter valued at $148,000. SG Americas Securities LLC purchased a new position in Chinook Therapeutics during the 3rd quarter worth $289,000. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Chinook Therapeutics by 3.1% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 902,537 shares of the company’s stock worth $11,516,000 after acquiring an additional 27,413 shares in the last quarter. Institutional investors own 72.25% of the company’s stock.

Chinook Therapeutics stock traded up $0.07 during trading hours on Wednesday, hitting $15.65. The stock had a trading volume of 214,763 shares, compared to its average volume of 339,849. The business’s 50 day simple moving average is $14.24 and its 200-day simple moving average is $14.28. Chinook Therapeutics has a one year low of $10.48 and a one year high of $19.85. The stock has a market cap of $859.98 million, a price-to-earnings ratio of -6.52 and a beta of 0.05.

About Chinook Therapeutics (Get Rating)

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 proteinuric glomerular diseases.

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