Kindred Biosciences Inc (KIN) Insider Richard Chin Sells 40,000 Shares
Kindred Biosciences Inc (NASDAQ:KIN) insider Richard Chin sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $14.79, for a total value of $591,600.00. Following the transaction, the insider now directly owns 2,073,671 shares of the company’s stock, valued at approximately $30,669,594.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Richard Chin also recently made the following trade(s):
- On Wednesday, August 1st, Richard Chin sold 40,000 shares of Kindred Biosciences stock. The shares were sold at an average price of $13.51, for a total value of $540,400.00.
- On Monday, July 2nd, Richard Chin sold 40,000 shares of Kindred Biosciences stock. The shares were sold at an average price of $10.28, for a total value of $411,200.00.
Shares of NASDAQ:KIN traded down $0.40 during midday trading on Friday, hitting $14.05. The company had a trading volume of 13,311 shares, compared to its average volume of 228,567. Kindred Biosciences Inc has a twelve month low of $6.80 and a twelve month high of $15.75. The stock has a market cap of $500.24 million, a PE ratio of -11.63 and a beta of 0.32.
Several equities research analysts recently commented on KIN shares. Zacks Investment Research cut Kindred Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Kindred Biosciences in a report on Monday, August 13th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $20.00 price target on shares of Kindred Biosciences in a report on Thursday, August 9th. B. Riley increased their price target on Kindred Biosciences from $12.50 to $16.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Finally, LADENBURG THALM/SH SH cut Kindred Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 7th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $16.75.
Institutional investors have recently modified their holdings of the stock. B. Riley Financial Inc. purchased a new position in Kindred Biosciences in the first quarter worth approximately $1,120,000. Sit Investment Associates Inc. purchased a new position in Kindred Biosciences in the second quarter worth approximately $752,000. Trexquant Investment LP purchased a new position in Kindred Biosciences in the second quarter worth approximately $235,000. Citigroup Inc. grew its position in Kindred Biosciences by 2,575.3% in the first quarter. Citigroup Inc. now owns 31,007 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 29,848 shares during the period. Finally, New York State Common Retirement Fund grew its position in Kindred Biosciences by 6.2% in the first quarter. New York State Common Retirement Fund now owns 243,249 shares of the biopharmaceutical company’s stock worth $2,104,000 after acquiring an additional 14,285 shares during the period. Institutional investors own 62.59% of the company’s stock.
Kindred Biosciences Company Profile
Kindred Biosciences, Inc, a biopharmaceutical company, focuses on the development of therapies for pets. The company's product pipeline includes small molecules and biologics for a range of indications in dogs, cats, and horses. Its lead product candidates comprise Zimeta, a dipyrone injection for the control of pyrexia (fever) in horses; and Mirataz, a mirtazapine transdermal ointment for the management of weight loss in cats.
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