Cantor Fitzgerald lifts Chinook Therapeutics Inc. [KDNY] price estimate. Who else is bullish?

Chinook Therapeutics Inc. [NASDAQ: KDNY] loss -8.85% on the last trading session, reaching $19.06 price per share at the time. The company report on December 8, 2020 that Chinook Therapeutics Announces License Agreement with Morehouse School of Medicine for Development of Therapies in Kidney Diseases Disproportionately Affecting African Americans and Underserved Communities.

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Chinook Therapeutics, Inc. (NASDAQ: KDNY), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of precision medicines for kidney diseases, announced that it has entered into a license agreement with Morehouse School of Medicine for certain patents supporting the development of therapeutics in kidney diseases that disproportionately affect people of West African descent and underserved communities.

Under the terms of the agreement, Chinook has been granted an exclusive, worldwide, sublicensable, royalty-bearing right and license under certain patents related to methods and compositions for the treatment and detection of kidney diseases, including HIV-associated nephropathy (HIVAN) and/or focal segmental glomerulosclerosis (FSGS) using endothelin-1 receptor antagonists, to develop and commercialize therapeutic products. Terms of the license agreement have not been disclosed.

Chinook Therapeutics Inc. represents 42.16 million in outstanding shares, while the company has a total market value of $881.52 million with the latest information. KDNY stock price has been found in the range of $18.5001 to $21.47.

If compared to the average trading volume of 153.77K shares, KDNY reached a trading volume of 1688162 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Chinook Therapeutics Inc. [KDNY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KDNY shares is $30.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KDNY stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for Chinook Therapeutics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 10, 2020. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on November 16, 2020, representing the official price target for Chinook Therapeutics Inc. stock. Previously, the target price had yet another raise to $32, while Evercore ISI analysts kept a Outperform rating on KDNY stock.

The Average True Range (ATR) for Chinook Therapeutics Inc. is set at 1.46, with the Price to Sales ratio for KDNY stock in the period of the last 12 months amounting to 32.77. The Price to Book ratio for the last quarter was 8.95, with the Price to Cash per share for the same quarter was set at 3.53.

Trading performance analysis for KDNY stock

Chinook Therapeutics Inc. [KDNY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 43.09. With this latest performance, KDNY shares gained by 40.98% in over the last four-week period, additionally plugging by 63.61% over the last 6 months – not to mention a rise of 273.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KDNY stock in for the last two-week period is set at 66.60, with the RSI for the last a single of trading hit 68.54, and the three-weeks RSI is set at 64.09 for Chinook Therapeutics Inc. [KDNY]. The present Moving Average for the last 50 days of trading for this stock 14.84, while it was recorded at 18.52 for the last single week of trading, and 13.88 for the last 200 days.

Chinook Therapeutics Inc. [KDNY]: A deeper dive into fundamental analysis

Chinook Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.30 and a Current Ratio set at 11.30.

Chinook Therapeutics Inc. [KDNY]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Chinook Therapeutics Inc. posted -1.2/share EPS, while the average EPS was predicted by analysts to be reported at -1.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KDNY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Chinook Therapeutics Inc. go to 9.00%.

An analysis of insider ownership at Chinook Therapeutics Inc. [KDNY]

There are presently around $220 million, or 18.20% of KDNY stock, in the hands of institutional investors. The top three institutional holders of KDNY stocks are: BAILLIE GIFFORD & CO with ownership of 4,265,980, which is approximately 398.046% of the company’s market cap and around 2.50% of the total institutional ownership; VIVO CAPITAL, LLC, holding 1,023,712 shares of the stock with an approximate value of $19.51 million in KDNY stocks shares; and BLACKROCK INC., currently with $16.73 million in KDNY stock with ownership of nearly -2.207% of the company’s market capitalization.

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26 institutional holders increased their position in Chinook Therapeutics Inc. [NASDAQ:KDNY] by around 4,772,915 shares. Additionally, 55 investors decreased positions by around 1,436,444 shares, while 18 investors held positions by with 5,333,414 shares. The mentioned changes placed institutional holdings at 11,542,773 shares, according to the latest SEC report filing. KDNY stock had 9 new institutional investments in for a total of 537,708 shares, while 29 institutional investors sold positions of 1,205,681 shares during the same period.

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