Chinook Therapeutics (NASDAQ:KDNY) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) announced its earnings results on Thursday. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.13, Fidelity Earnings reports. Chinook Therapeutics had a negative return on equity of 26.45% and a negative net margin of 199.39%.

NASDAQ:KDNY traded up $0.86 during trading hours on Friday, hitting $13.97. The stock had a trading volume of 379,865 shares, compared to its average volume of 289,250. Chinook Therapeutics has a one year low of $10.48 and a one year high of $19.85. The business’s 50 day moving average is $14.82 and its 200-day moving average is $14.51.

In other Chinook Therapeutics news, insider Andrew James King sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $13.00, for a total value of $32,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.38% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in Chinook Therapeutics by 9.5% in the first quarter. Rhumbline Advisers now owns 50,184 shares of the company’s stock valued at $821,000 after purchasing an additional 4,362 shares in the last quarter. Alliancebernstein L.P. grew its position in Chinook Therapeutics by 6.6% in the fourth quarter. Alliancebernstein L.P. now owns 33,720 shares of the company’s stock valued at $550,000 after purchasing an additional 2,100 shares in the last quarter. Deutsche Bank AG grew its position in Chinook Therapeutics by 24.7% in the fourth quarter. Deutsche Bank AG now owns 23,746 shares of the company’s stock valued at $387,000 after purchasing an additional 4,702 shares in the last quarter. California State Teachers Retirement System grew its position in Chinook Therapeutics by 20.0% in the fourth quarter. California State Teachers Retirement System now owns 21,308 shares of the company’s stock valued at $348,000 after purchasing an additional 3,546 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Chinook Therapeutics by 58.5% in the first quarter. MetLife Investment Management LLC now owns 19,839 shares of the company’s stock valued at $325,000 after acquiring an additional 7,322 shares during the last quarter. 84.23% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered Chinook Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, March 22nd.

Chinook Therapeutics Company Profile (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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