Kindred Biosciences (KIN) Upgraded to Hold by ValuEngine
ValuEngine upgraded shares of Kindred Biosciences (NASDAQ:KIN) from a sell rating to a hold rating in a report issued on Friday morning.
KIN has been the topic of several other research reports. Zacks Investment Research raised shares of 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. B. Riley reissued a buy rating and set a $11.00 price objective on shares of Kindred Biosciences in a research note on Monday, November 20th. Finally, HC Wainwright assumed coverage on shares of Kindred Biosciences in a research note on Friday, November 17th. They set a buy rating and a $9.50 price objective on the stock. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $9.54.
Shares of Kindred Biosciences (NASDAQ KIN) traded down $0.05 during midday trading on Friday, hitting $7.60. 41,292 shares of the company’s stock traded hands, compared to its average volume of 65,067. Kindred Biosciences has a 12 month low of $3.90 and a 12 month high of $9.65.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Kindred Biosciences by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,369,688 shares of the biopharmaceutical company’s stock valued at $9,656,000 after buying an additional 34,735 shares during the period. Vanguard Group Inc. increased its position in Kindred Biosciences by 57.7% during the second quarter. Vanguard Group Inc. now owns 745,322 shares of the biopharmaceutical company’s stock worth $6,410,000 after purchasing an additional 272,612 shares during the last quarter. General American Investors Co. Inc. acquired a new position in Kindred Biosciences during the third quarter worth approximately $5,232,000. Renaissance Technologies LLC increased its position in Kindred Biosciences by 43.6% during 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 during the last quarter. Finally, Wells Fargo & Company MN increased its position in Kindred Biosciences by 2.2% during the third quarter. Wells Fargo & Company MN now owns 337,608 shares of the biopharmaceutical company’s stock worth $2,650,000 after purchasing an additional 7,206 shares during the last quarter. 66.85% of the stock is currently owned by institutional investors and hedge funds.
Kindred Biosciences Company 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.
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