Robeco Institutional Asset Management B.V. Acquires New Shares in Chinook Therapeutics, Inc. (NASDAQ:KDNY)

Robeco Institutional Asset Management B.V. bought a new position in Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,258 shares of the company’s stock, valued at approximately $142,000.

A number of other hedge funds also recently added to or reduced their stakes in KDNY. ClariVest Asset Management LLC bought a new stake in Chinook Therapeutics in the 2nd quarter valued at about $552,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Chinook Therapeutics during the second quarter worth approximately $229,000. C M Bidwell & Associates Ltd. bought a new position in Chinook Therapeutics in the 2nd quarter worth approximately $162,000. Frazier Life Sciences Management L.P. increased its position in Chinook Therapeutics by 32.6% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,595,026 shares of the company’s stock valued at $62,877,000 after acquiring an additional 882,985 shares during the period. Finally, Marquette Asset Management LLC raised its stake in Chinook Therapeutics by 7.0% during the 2nd quarter. Marquette Asset Management LLC now owns 38,000 shares of the company’s stock valued at $665,000 after acquiring an additional 2,500 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors.

Chinook Therapeutics Stock Performance

Chinook Therapeutics stock opened at $25.98 on Friday. Chinook Therapeutics, Inc. has a 1 year low of $11.16 and a 1 year high of $27.44. The firm’s 50 day moving average price is $23.70 and its two-hundred day moving average price is $21.38. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -14.12 and a beta of 0.02.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last announced its earnings results on Thursday, November 10th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.21). Chinook Therapeutics had a negative return on equity of 25.30% and a negative net margin of 207.15%. The company had revenue of $2.50 million for the quarter, compared to analyst estimates of $0.35 million. As a group, equities analysts predict that Chinook Therapeutics, Inc. will post -2.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

KDNY has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating on shares of Chinook Therapeutics in a report on Friday, November 11th. HC Wainwright upped their price target on shares of Chinook Therapeutics from $32.00 to $33.00 in a research note on Wednesday, November 23rd. Wells Fargo & Company assumed coverage on shares of Chinook Therapeutics in a research note on Monday, December 5th. They set an “overweight” rating and a $30.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Chinook Therapeutics in a research report on Thursday, November 17th. Finally, Stifel Nicolaus lifted their price target on Chinook Therapeutics from $30.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, December 22nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $37.50.

Insider Buying and Selling at Chinook Therapeutics

In other news, CEO Eric Dobmeier sold 30,000 shares of Chinook Therapeutics stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $22.31, for a total value of $669,300.00. Following the transaction, the chief executive officer now directly owns 241,676 shares of the company’s stock, valued at $5,391,791.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Chinook Therapeutics news, CEO Eric Dobmeier sold 30,000 shares of Chinook Therapeutics stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $22.31, for a total transaction of $669,300.00. Following the transaction, the chief executive officer now directly owns 241,676 shares in the company, valued at approximately $5,391,791.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew James King sold 10,000 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $25.82, for a total value of $258,200.00. Following the completion of the sale, the insider now owns 9,992 shares of the company’s stock, valued at approximately $257,993.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,770 shares of company stock valued at $1,527,713. 23.38% of the stock is currently owned by corporate insiders.

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.