Granahan Investment Management Inc. MA Increases Holdings in Kindred Biosciences Inc (KIN)

Granahan Investment Management Inc. MA raised its holdings in shares of Kindred Biosciences Inc (NASDAQ:KIN) by 35.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,358 shares of the biopharmaceutical company’s stock after buying an additional 22,768 shares during the period. Granahan Investment Management Inc. MA owned about 0.31% of Kindred Biosciences worth $678,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Kindred Biosciences by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,369,688 shares of the biopharmaceutical company’s stock valued at $9,656,000 after buying an additional 34,735 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Kindred Biosciences by 57.7% in the second quarter. Vanguard Group Inc. now owns 745,322 shares of the biopharmaceutical company’s stock worth $6,410,000 after purchasing an additional 272,612 shares in the last quarter. General American Investors Co. Inc. purchased a new stake in shares of Kindred Biosciences in the third quarter worth $5,232,000. Wells Fargo & Company MN increased its stake in shares of Kindred Biosciences by 2.2% in the third quarter. Wells Fargo & Company MN now owns 337,608 shares of the biopharmaceutical company’s stock worth $2,650,000 after purchasing an additional 7,206 shares in the last quarter. Finally, AJO LP purchased a new stake in shares of Kindred Biosciences in the second quarter worth $2,407,000. 66.85% of the stock is owned by institutional investors and hedge funds.

Shares of Kindred Biosciences Inc (KIN) opened at $8.05 on Thursday. Kindred Biosciences Inc has a 52 week low of $4.15 and a 52 week high of $9.65.

Kindred Biosciences (NASDAQ:KIN) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.04. research analysts predict that Kindred Biosciences Inc will post -1.19 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on KIN. HC Wainwright set a $10.00 price objective on shares of Kindred Biosciences and gave the stock a “buy” rating in a research note on Tuesday, December 5th. B. Riley set a $11.00 price objective on shares of Kindred Biosciences and gave the stock a “buy” rating in a research note on Tuesday, December 5th. ValuEngine raised shares of Kindred Biosciences from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research cut shares of Kindred Biosciences from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Kindred Biosciences has a consensus rating of “Buy” and a consensus price target of $9.63.

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Kindred Biosciences 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.

Institutional Ownership by Quarter for Kindred Biosciences (NASDAQ:KIN)

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