Schwab Charles Investment Management Inc. Invests $306,000 in Kindred Biosciences, Inc. (KIN)
Schwab Charles Investment Management Inc. bought a new stake in shares of Kindred Biosciences, Inc. (NASDAQ:KIN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 35,500 shares of the biopharmaceutical company’s stock, valued at approximately $306,000. Schwab Charles Investment Management Inc. owned about 0.15% of Kindred Biosciences as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Kindred Biosciences by 12.6% during the first quarter. Morgan Stanley now owns 2,027,560 shares of the biopharmaceutical company’s stock valued at $14,294,000 after buying an additional 226,822 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Kindred Biosciences by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,369,688 shares of the biopharmaceutical company’s stock worth $9,656,000 after purchasing an additional 34,735 shares in the last quarter. Renaissance Technologies LLC grew its stake in Kindred Biosciences by 43.6% in the first quarter. Renaissance Technologies LLC now owns 504,800 shares of the biopharmaceutical company’s stock worth $3,559,000 after purchasing an additional 153,200 shares in the last quarter. UBS Group AG grew its stake in Kindred Biosciences by 152.7% in the first quarter. UBS Group AG now owns 65,217 shares of the biopharmaceutical company’s stock worth $460,000 after purchasing an additional 39,411 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Kindred Biosciences by 28.5% in the first quarter. Goldman Sachs Group Inc. now owns 22,336 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 4,954 shares in the last quarter. 62.77% of the stock is currently owned by hedge funds and other institutional investors.
Kindred Biosciences, Inc. (NASDAQ KIN) opened at $7.40 on Thursday. Kindred Biosciences, Inc. has a 52 week low of $3.90 and a 52 week high of $9.65.
Kindred Biosciences (NASDAQ:KIN) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.04. sell-side analysts anticipate that Kindred Biosciences, Inc. will post -1.18 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/11/09/schwab-charles-investment-management-inc-invests-306000-in-kindred-biosciences-inc-kin.html.
Separately, Zacks Investment Research raised Kindred Biosciences from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Wednesday, September 27th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $9.19.
Kindred Biosciences Profile
Kindred Biosciences, Inc is a development-stage biopharmaceutical company. The Company is focused on developing therapies for pets. The Company’s product pipeline consists of small molecules and biologics for a range of indications in dogs, cats and horses. The Company is developing product candidates for over 20 indications and focused on small molecule products and canine and feline biologics products.
Receive News & Stock Ratings for Kindred Biosciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kindred Biosciences Inc. and related stocks with our FREE daily email newsletter.