Equities Analysts Set Expectations for Chinook Therapeutics, Inc.’s FY2022 Earnings (NASDAQ:KDNY)

Chinook Therapeutics, Inc. (NASDAQ:KDNYGet Rating) – Equities researchers at SVB Leerink cut their FY2022 earnings estimates for Chinook Therapeutics in a research note issued to investors on Sunday, November 13th. SVB Leerink analyst J. Schwartz now expects that the company will earn ($2.75) per share for the year, down from their previous estimate of ($2.40). The consensus estimate for Chinook Therapeutics’ current full-year earnings is ($2.53) per share. SVB Leerink also issued estimates for Chinook Therapeutics’ Q4 2022 earnings at ($0.77) EPS, Q1 2023 earnings at ($0.77) EPS, Q2 2023 earnings at ($0.77) EPS, Q3 2023 earnings at ($0.74) EPS, Q4 2023 earnings at ($0.74) EPS, FY2023 earnings at ($3.02) EPS and FY2024 earnings at ($1.76) EPS.

A number of other analysts have also commented on the company. HC Wainwright raised their price target on Chinook Therapeutics from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Wedbush reiterated an “outperform” rating on shares of Chinook Therapeutics in a report on Friday, November 11th.

Chinook Therapeutics Price Performance

Shares of KDNY opened at $21.53 on Wednesday. The firm has a market cap of $1.38 billion, a P/E ratio of -11.70 and a beta of 0.10. The stock has a 50 day simple moving average of $20.82 and a two-hundred day simple moving average of $18.94. Chinook Therapeutics has a 1 year low of $11.16 and a 1 year high of $23.86.

Insider Activity at Chinook Therapeutics

In other Chinook Therapeutics news, COO Tom Frohlich sold 7,360 shares of Chinook Therapeutics stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $19.69, for a total value of $144,918.40. Following the sale, the chief operating officer now owns 143,907 shares of the company’s stock, valued at approximately $2,833,528.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Chinook Therapeutics news, insider Andrew James King sold 3,557 shares of the company’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $19.69, for a total value of $70,037.33. Following the completion of the sale, the insider now directly owns 12,492 shares in the company, valued at approximately $245,967.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Tom Frohlich sold 7,360 shares of the company’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $19.69, for a total value of $144,918.40. Following the sale, the chief operating officer now owns 143,907 shares of the company’s stock, valued at $2,833,528.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,917 shares of company stock valued at $436,556. 23.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KDNY. Point72 Hong Kong Ltd purchased a new stake in shares of Chinook Therapeutics in the second quarter worth about $33,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Chinook Therapeutics in the first quarter valued at approximately $31,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Chinook Therapeutics in the third quarter valued at approximately $65,000. Quantbot Technologies LP acquired a new stake in shares of Chinook Therapeutics in the second quarter valued at approximately $60,000. Finally, Strs Ohio acquired a new stake in Chinook Therapeutics during the second quarter worth $71,000.

About Chinook Therapeutics

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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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