Eric Dobmeier Purchases 5,000 Shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY) Stock

Chinook Therapeutics, Inc. (NASDAQ:KDNYGet Rating) CEO Eric Dobmeier acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were acquired at an average cost of $13.03 per share, with a total value of $65,150.00. Following the completion of the transaction, the chief executive officer now directly owns 205,880 shares in the company, valued at approximately $2,682,616.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ:KDNY traded up $1.54 on Friday, hitting $15.42. The company had a trading volume of 844,464 shares, compared to its average volume of 434,561. Chinook Therapeutics, Inc. has a 52-week low of $10.48 and a 52-week high of $19.85. The business has a 50 day moving average of $14.98 and a 200 day moving average of $14.59. The company has a market cap of $850.83 million, a PE ratio of -7.34 and a beta of 0.10.

Chinook Therapeutics (NASDAQ:KDNYGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.14. The company had revenue of $2.70 million for the quarter. Chinook Therapeutics had a negative return on equity of 23.24% and a negative net margin of 180.48%. On average, research analysts predict that Chinook Therapeutics, Inc. will post -2.89 EPS for the current fiscal year.

A number of equities analysts have recently commented on KDNY shares. SVB Leerink boosted their price objective on Chinook Therapeutics from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday. Zacks Investment Research upgraded Chinook Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday.

Several hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Chinook Therapeutics during the 1st quarter valued at approximately $31,000. Royal Bank of Canada lifted its holdings in shares of Chinook Therapeutics by 193.7% in the 2nd quarter. Royal Bank of Canada now owns 2,182 shares of the company’s stock worth $30,000 after purchasing an additional 1,439 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Chinook Therapeutics in the 1st quarter worth approximately $76,000. Invesco Ltd. bought a new stake in shares of Chinook Therapeutics in the 2nd quarter worth approximately $148,000. Finally, Squarepoint Ops LLC bought a new stake in Chinook Therapeutics during the 4th quarter valued at $177,000. 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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