Dimensional Fund Advisors LP Has $9.66 Million Stake in Kindred Biosciences, Inc. (KIN)

Dimensional Fund Advisors LP increased its position in Kindred Biosciences, Inc. (NASDAQ:KIN) by 2.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,369,688 shares of the biopharmaceutical company’s stock after buying an additional 34,735 shares during the period. Dimensional Fund Advisors LP owned about 6.21% of Kindred Biosciences worth $9,656,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Kindred Biosciences by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 351,600 shares of the biopharmaceutical company’s stock worth $1,494,000 after buying an additional 20,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Kindred Biosciences during the first quarter worth approximately $102,000. Acadian Asset Management LLC boosted its stake in shares of Kindred Biosciences by 51.6% in the first quarter. Acadian Asset Management LLC now owns 29,759 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 10,134 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Kindred Biosciences by 1.1% in the first quarter. Wells Fargo & Company MN now owns 329,902 shares of the biopharmaceutical company’s stock worth $2,326,000 after buying an additional 3,550 shares in the last quarter. 51.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kindred Biosciences, Inc. (KIN) traded up 1.44% during trading on Monday, reaching $7.05. 5,690 shares of the company were exchanged. The firm’s market capitalization is $196.25 million. The company’s 50-day moving average is $7.60 and its 200 day moving average is $7.02. Kindred Biosciences, Inc. has a 1-year low of $3.90 and a 1-year high of $9.65.

Kindred Biosciences (NASDAQ:KIN) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. Equities research analysts expect that Kindred Biosciences, Inc. will post ($1.27) EPS for the current fiscal year.

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A number of analysts have recently commented on KIN shares. FBR & Co started coverage on Kindred Biosciences in a research report on Wednesday, May 24th. They issued an “outperform” rating and a $10.00 price target on the stock. ValuEngine raised Kindred Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BMO Capital Markets reissued a “hold” rating and issued a $8.00 price target on shares of Kindred Biosciences in a research report on Friday, May 5th. Zacks Investment Research lowered shares of Kindred Biosciences from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Finally, Aegis started coverage on shares of Kindred Biosciences in a report on Friday, June 16th. They issued a “buy” rating and a $10.50 price objective for the company. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Kindred Biosciences has an average rating of “Buy” and a consensus price target of $8.85.

In other Kindred Biosciences news, insider Richard Chin sold 13,000 shares of Kindred Biosciences stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $8.26, for a total value of $107,380.00. Following the completion of the transaction, the insider now owns 2,297,546 shares of the company’s stock, valued at $18,977,729.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Park West Asset Management Llc acquired 15,311 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was purchased at an average cost of $6.65 per share, with a total value of $101,818.15. The disclosure for this purchase can be found here. Company insiders own 19.10% of the company’s stock.

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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