Chinook Therapeutics, Inc. (NASDAQ:KDNY) Expected to Post Q2 2023 Earnings of ($0.78) Per Share

Chinook Therapeutics, Inc. (NASDAQ:KDNY – Get Rating) – Stock analysts at Wedbush increased their Q2 2023 earnings per share estimates for Chinook Therapeutics in a research note issued to investors on Wednesday, May 10th. Wedbush analyst L. Chico now expects that the company will post earnings per share of ($0.78) for the quarter, up from their previous forecast of ($0.80). The consensus estimate for Chinook Therapeutics’ current full-year earnings is ($3.19) per share. Wedbush also issued estimates for Chinook Therapeutics’ Q3 2023 earnings at ($0.75) EPS, Q4 2023 earnings at ($0.76) EPS, FY2024 earnings at ($3.51) EPS, FY2025 earnings at ($3.06) EPS and FY2026 earnings at ($1.09) EPS.

Chinook Therapeutics (NASDAQ:KDNY – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.03). Chinook Therapeutics had a negative return on equity of 40.61% and a negative net margin of 3,065.68%. The business had revenue of $1.83 million during the quarter, compared to analyst estimates of $0.14 million. Chinook Therapeutics’s revenue for the quarter was down 32.2% on a year-over-year basis.

Other equities analysts also recently issued research reports about the stock. Piper Sandler initiated coverage on shares of Chinook Therapeutics in a research note on Monday, March 6th. They set an “overweight” rating and a $41.00 price target on the stock. Oppenheimer increased their target price on Chinook Therapeutics from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 28th. HC Wainwright lifted their target price on Chinook Therapeutics from $31.00 to $32.00 in a report on Wednesday. Finally, Guggenheim dropped their price target on Chinook Therapeutics from $43.00 to $35.00 in a research note on Tuesday, May 2nd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $37.00.

Chinook Therapeutics Stock Performance

KDNY opened at $23.39 on Friday. Chinook Therapeutics has a 1 year low of $12.49 and a 1 year high of $27.44. The company’s 50 day simple moving average is $21.84 and its 200 day simple moving average is $23.05. The stock has a market capitalization of $1.56 billion, a PE ratio of -7.33 and a beta of 0.17.

Insider Buying and Selling

In other Chinook Therapeutics news, CEO Eric Dobmeier sold 23,800 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $21.58, for a total value of $513,604.00. Following the completion of the sale, the chief executive officer now owns 302,338 shares of the company’s stock, valued at $6,524,454.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Davis Jerel sold 295,808 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $20.75, for a total value of $6,138,016.00. Following the transaction, the director now owns 443,713 shares in the company, valued at $9,207,044.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric Dobmeier sold 23,800 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $21.58, for a total value of $513,604.00. Following the completion of the transaction, the chief executive officer now directly owns 302,338 shares in the company, valued at $6,524,454.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 725,532 shares of company stock valued at $15,889,581. Corporate insiders own 23.38% of the company’s stock.

Institutional Trading of Chinook Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System lifted its position in shares of Chinook Therapeutics by 4.4% during the first quarter. Arizona State Retirement System now owns 12,042 shares of the company’s stock worth $279,000 after purchasing an additional 506 shares during the last quarter. Rhumbline Advisers lifted its holdings in Chinook Therapeutics by 0.8% during the 1st quarter. Rhumbline Advisers now owns 81,771 shares of the company’s stock worth $1,893,000 after buying an additional 678 shares during the last quarter. Ziegler Capital Management LLC lifted its holdings in Chinook Therapeutics by 2.7% during the 4th quarter. Ziegler Capital Management LLC now owns 26,466 shares of the company’s stock worth $693,000 after buying an additional 686 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Chinook Therapeutics by 4.9% in the 4th quarter. Legal & General Group Plc now owns 16,347 shares of the company’s stock valued at $428,000 after acquiring an additional 768 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Chinook Therapeutics by 1.4% in the 3rd quarter. New York State Common Retirement Fund now owns 62,875 shares of the company’s stock valued at $1,236,000 after acquiring an additional 862 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Chinook Therapeutics Company Profile

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Chinook Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in discovering, developing, and commercializing precision medicines for rare, severe chronic kidney diseases. The company was founded in 2019 and is headquartered in Seattle, WA.