Kindred Biosciences, Inc. (KIN) Sees Large Increase in Short Interest

Kindred Biosciences, Inc. (NASDAQ:KIN) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 108,116 shares, a growth of 8.9% from the April 28th total of 99,281 shares. Based on an average daily trading volume, of 70,354 shares, the short-interest ratio is presently 1.5 days.

In other Kindred Biosciences news, major shareholder Park West Asset Management Llc acquired 155,076 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average price of $6.83 per share, for a total transaction of $1,059,169.08. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 19.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Kindred Biosciences during the first quarter valued at $102,000. Goldman Sachs Group Inc. raised 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 valued at $157,000 after buying an additional 4,954 shares during the last quarter. Acadian Asset Management LLC raised its stake in Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 10,134 shares during the last quarter. UBS Group AG raised 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 valued at $460,000 after buying an additional 39,411 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Kindred Biosciences by 6.3% in the first quarter. Geode Capital Management LLC now owns 69,025 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 4,081 shares during the last quarter. 69.53% of the stock is owned by institutional investors.

Kindred Biosciences (KIN) traded down 1.41% during trading on Monday, reaching $7.00. 225,742 shares of the company were exchanged. The company’s market capitalization is $163.17 million. The firm’s 50-day moving average is $6.91 and its 200 day moving average is $6.25. Kindred Biosciences has a one year low of $3.25 and a one year high of $7.55.

Kindred Biosciences (NASDAQ:KIN) last posted its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.04. On average, analysts anticipate that Kindred Biosciences will post ($1.44) EPS for the current fiscal year.

KIN has been the subject of several analyst reports. Zacks Investment Research cut shares of Kindred Biosciences from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets restated a “hold” rating and issued a $8.00 target price on shares of Kindred Biosciences in a research report on Monday, May 15th. Aegis initiated coverage on shares of Kindred Biosciences in a research report on Friday. They issued a “buy” rating and a $10.50 target price for the company. ValuEngine upgraded shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, FBR & Co assumed coverage on shares of Kindred Biosciences in a research report on Wednesday, May 24th. They issued an “outperform” rating and a $10.00 target price for the company. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $8.70.

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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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