Q2 2022 Earnings Estimate for Chinook Therapeutics, Inc. Issued By Oppenheimer (NASDAQ:KDNY)

Chinook Therapeutics, Inc. (NASDAQ:KDNYGet Rating) – Equities researchers at Oppenheimer lifted their Q2 2022 earnings per share estimates for shares of Chinook Therapeutics in a note issued to investors on Monday, May 23rd. Oppenheimer analyst J. Kim now anticipates that the company will earn ($0.60) per share for the quarter, up from their prior forecast of ($0.72). Oppenheimer also issued estimates for Chinook Therapeutics’ Q3 2022 earnings at ($0.65) EPS, Q3 2022 earnings at ($0.65) EPS, Q4 2022 earnings at ($0.67) EPS, Q4 2022 earnings at ($0.67) EPS, FY2022 earnings at ($2.46) EPS, FY2022 earnings at ($2.46) EPS, FY2023 earnings at ($2.65) EPS, FY2024 earnings at ($2.46) EPS, FY2024 earnings at ($2.46) EPS and FY2025 earnings at ($0.57) EPS.

Other research analysts have also issued research reports about the stock. SVB Leerink increased their price target on shares of Chinook Therapeutics from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday. Zacks Investment Research raised Chinook Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday.

Shares of Chinook Therapeutics stock opened at $15.11 on Wednesday. The firm has a fifty day simple moving average of $15.00 and a 200-day simple moving average of $14.60. Chinook Therapeutics has a 1-year low of $10.48 and a 1-year high of $19.85. The stock has a market capitalization of $833.72 million, a price-to-earnings ratio of -7.33 and a beta of 0.10.

Chinook Therapeutics (NASDAQ:KDNYGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.14. Chinook Therapeutics had a negative net margin of 180.48% and a negative return on equity of 23.24%. The firm had revenue of $2.70 million for the quarter.

In related news, insider Andrew James King sold 5,000 shares of Chinook Therapeutics stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $15.36, for a total transaction of $76,800.00. Following the completion of the sale, the insider now directly owns 5,897 shares of the company’s stock, valued at approximately $90,577.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 23.38% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of KDNY. Samsara BioCapital LLC raised its stake in Chinook Therapeutics by 36.0% during the fourth quarter. Samsara BioCapital LLC now owns 4,591,888 shares of the company’s stock worth $74,894,000 after buying an additional 1,215,000 shares during the last quarter. BlackRock Inc. raised its position in Chinook Therapeutics by 2.2% in the first quarter. BlackRock Inc. now owns 3,054,997 shares of the company’s stock worth $49,980,000 after acquiring an additional 67,066 shares during the period. Deep Track Capital LP lifted its position in shares of Chinook Therapeutics by 23.9% during the 1st quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $49,080,000 after buying an additional 579,498 shares during the last quarter. Frazier Life Sciences Management L.P. bought a new position in Chinook Therapeutics in the 1st quarter worth approximately $44,369,000. Finally, Frazier Management LLC increased its position in shares of Chinook Therapeutics by 41.9% during the fourth quarter. Frazier Management LLC now owns 2,371,918 shares of the company’s stock valued at $38,686,000 after buying an additional 700,000 shares during the period. Institutional investors and hedge funds own 84.23% of the company’s stock.

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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Earnings History and Estimates for Chinook Therapeutics (NASDAQ:KDNY)

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