Threadneedle Asset Management Ltd.. recently announced the acquisition of new stake in Kindred Biosciences Inc. (NASDAQ:KIN). The institutional investor has increased its shareholding in the Healthcare company by 71.45% to 1.91 million shares with purchase of 0.8 million shares. This fresh investment now brings its stake to 4.87% valued currently at $6.3 million. In addition, The Vanguard Group, Inc. raised its holdings by 58227.0 to 1.9 million shares. And Renaissance Technologies LLC has lifted its position by 17.04% or 0.2 million shares – to 1.38 million shares.
With over 1.0 million Kindred Biosciences Inc. (KIN) shares trading Friday and a closing price of $4.19 on the day, the dollar volume was approximately $4.19 million. The shares have shown a positive weekly performance of 5.28% and its price on 08/28/20 gained nearly 6.08%. Currently, there are 39.24M common shares owned by the public and among those 36.94M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for KIN have a consensus price objective of $11.64. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $9.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Kindred Biosciences Inc. stock is 2.00 for the next 12 months. But an upside of 70.07% will see the stock hit the forecast high price target while mean target price for the stock is $12.00.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 186,250 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 225,211 shares.
The top 3 mutual fund holders in Kindred Biosciences Inc. are Vanguard Total Stock Market Index, Core Ny Teknik, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 1.15 million shares of the company’s stock, all valued at over $3.8 million. iShares Russell 2000 ETF sold 37842.0 shares to bring its total holdings to over 0.81 million shares at a value of $2.67 million. iShares Russell 2000 ETF now owns shares totaling to 2.07% of the shares outstanding.
Shares of Kindred Biosciences Inc. (NASDAQ: KIN) opened at $4.05, up $0.1 from a prior closing price of $3.95. However, the script later closed the day at $4.19, up 6.08%. The company’s stock has a 5-day price change of 5.28% and -11.60% over the past three months. KIN shares are trading -50.59% year to date (YTD), with the 12-month market performance down to -43.76% lower. It has a 12-month low price of $3.11 and touched a high of $11.93 over the same period. Currently, 1.0 million shares have been traded, compared to an average intraday trading volume of 396.37K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.87%, 4.63%, and -32.36% respectively.
Institutional ownership of Kindred Biosciences Inc. (NASDAQ: KIN) shares accounts for 67.90% of the company’s 39.24M shares outstanding. Mutual fund holders own 26.00%, while other institutional holders and individual stakeholders account for 44.80% and 24.85% respectively.
It has a market capitalization of $155.49M and a beta (3y monthly) value of 0.97. The earnings-per-share (ttm) stands at -$0.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.22% over the week and 6.68% over the month.
Analysts forecast that Kindred Biosciences Inc. (KIN) will achieve an EPS of -$0.3 for the current quarter, -$0.27 for the next quarter and -$0.8 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.36 while analysts give the company a high EPS estimate of -$0.26. Comparatively, EPS for the current quarter was -$0.39 a year ago. Earnings per share for the fiscal year are expected to increase by 0.90%, and -56.90% over the next financial year. EPS should grow at an annualized rate of 40.00% over the next five years, compared to -1.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Kindred Biosciences Inc. (KIN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 1 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the KIN, a number of firms have released research notes about the stock. Guggenheim stated their Neutral rating for the stock in a research note on March 17, 2020, with the firm’s price target at. H.C. Wainwright coverage for the Kindred Biosciences Inc. (KIN) stock in a research note released on November 13, 2019 offered a Buy rating with a price target of $16. B. Riley FBR was of a view on July 16, 2019 that the stock is Neutral, while Barclays gave the stock Overweight rating on June 11, 2019, issuing a price target of $13. Stifel on their part issued Buy rating on May 23, 2019.