The number of short positions in Chinook Therapeutics, Inc. increased significantly during December. This trend continued throughout the entire month (NASDAQ: KDNY). There were 1,880,000 shares borrowed one month before December 15, representing a 10.6% increase over the total of 2,080,000 shares borrowed as of December 15. Based on an average trading volume of 541,000 shares, the short-interest ratio for the company in question is currently 3.8 days. This number was calculated using the data.
Recently, several different hedge funds have changed the percentages of ownership in the company they are currently holding. During the company’s third fiscal quarter, BlackRock Inc. increased the proportion of Chinook Therapeutics’ shares that it owns in the business by 9.6%. BlackRock Inc. now has a total ownership stake in the company equal to 3,651,299 shares, which are worth a total of $71,785,000 after purchasing an additional 319,169 shares during the most recent period. During the second quarter, Frazier Life Sciences Management L.P. achieved a 32.6% increase in the proportion of Chinook Therapeutics held within its portfolio. After purchasing an additional 882,985 shares of the company’s stock during the period, Frazier Life Sciences Management L.P. now holds 3,595,026 shares of the company’s stock. Each share of the company’s stock is currently valued at $62,877.00. During the first three months of this year, Deep Track Capital L.P. increased the percentage of Chinook Therapeutics stock owned by 23.9%. The current ownership of the company’s stock by Deep Track Capital L.P. is 3,000,000 shares, valued at $49,080,000. The company purchased an additional 579,498 shares during the period under consideration. The percentage of Chinook Therapeutics stock that State Street Corporation owned grew by 58.8 percent during the company’s third-quarter reporting period. After making an additional purchase of 912,778 shares during the most recent period, State Street Corp. now has an ownership stake in the company equal to 2,465,719 shares for a total of $48,476,000. This brings the total number of shares owned by State Street Corp. to 2,465,719, The last but certainly not the least bit of news is that during the third quarter, Point72 Asset Management L.P. increased its holdings in Chinook Therapeutics by 0.9%. This is not to say that this is the least important news. Point72 Asset Management L.P. now holds a total of 2,440,754 shares of the company’s stock, which are currently valued at $47,985,000 following the acquisition of an additional 21,655 shares during the most recent period. Most of the company’s stock is owned by institutional investors and hedge funds, which account for 93.86 percent of the total.
In addition, on October 6, company insider Andrew James King sold 3,557 shares of the company’s stock. The price of each share was set at $19.69, which resulted in a total sale volume of 70,037.33 dollars. The average amount received for each share was $19.69. As a result of the successful transaction completion, the corporate insider now directly owns 12,492 shares of the company’s stock. The total value of these shares is approximately $245,967.48. If you follow this link, you will be taken to the SEC filing in which the sale was disclosed. Please click on the link to proceed. According to reports from other sources regarding Chinook Therapeutics, Chief Operating Officer Tom Frohlich sold 10,000 shares of the company’s stock on Tuesday, December 13. This information was obtained from publicly available sources. During the sale, each share was acquired at an average price of $25.00; as a result, the total value of the transaction was $250,000.
After the completion of the transaction, the chief operating officer now has direct ownership of 143,907 shares in the company. These shares have an approximate value of $3,597,675, making the total value of the COO’s holdings approximately $3,597,675. On the Securities and Exchange Commission’s (SEC) website, you can access the information submitted to the SEC regarding the transaction, which is currently available. In addition, on October 6, a person with inside knowledge of the company named Andrew James King sold 3,557 shares of the company’s stock. The stock was sold for a total value of $70,037.33 and at an average price per share of $19.69. The total amount of stock that was transacted was $70,037.33. As a result, the insider now directly owns 12,492 company shares, which have a combined value of $245,967.48 as a direct result of the transaction. Disclosures that are related to the sale might be found in this section of the website. Over the past three months, company insiders have been selling their shares of the company, which has resulted in a total of $1,484,469 being acquired from the transaction. At this time, company insiders hold 23.38% of the company’s available stock.
Regarding the stock, a great number of analysts who specialize in equity research have published articles. The day after the market closed on November 11, Wedbush reiterated the “outperform” rating they had previously assigned to shares of Chinook Therapeutics. Cantor Fitzgerald’s research report on Chinook Therapeutics shares, published on November 17, reaffirmed the firm’s “overweight” recommendation on the company’s stock. In a report released on Thursday, December 22, Stifel Nicolaus recommended that investors “buy” shares of Chinook Therapeutics and set a price target of $43.00 for the company’s stock. The new price objective is $33.00 higher than the previous $30.00. HC Wainwright stated that they would be increasing their price target for Chinook Therapeutics from $32.00 to $33.00 in a report published on November 23. The report was about Chinook Therapeutics. On Monday, December 5, Wells Fargo & Company began covering the shares of Chinook Therapeutics. This brings us to our final and most important point. The financial experts have given the company an “overweight” rating, and they anticipate that the stock will reach a price of $30.00 shortly. After researching the company’s stock, six analysts concluded that it should be purchased. According to information from Bloomberg.com, the stock is currently rated “buy” on average, and analysts have established a price objective for the stock with a consensus value of $37.50 as their target price.
The NASDAQ KDNY achieved a gain of 0.30 points and closed at $26.20 during the morning session on Monday. There were 12,554 shares traded in the company’s stock, with an average volume of 520,967 shares trading at any time. The price of a share of Chinook Therapeutics has been as low as $11.16 over the past 52 weeks, while it has reached a 52-week high of $27.44. Over the past fifty days, the price of the