Chinook: Q2 2023 Earnings Forecast for Chinook Therapeutics, Inc. (NASDAQ:KDNY) Issued By William Blair

Chinook Therapeutics, Inc. ( NASDAQ:KDNY - Free Report ) - Stock analysts at William Blair cut their Q2 2023 EPS estimates for shares of Chinook Therapeutics in a research note issued to investors on Tuesday, August 8th. William Blair analyst M. Phipps now forecasts that the company will post earnings per share of ($0.99) for the quarter, down from their prior forecast of ($0.88). William Blair currently has a "Market Perform" rating on the stock. The consensus estimate for Chinook Therapeutics' current full-year earnings is ($3.23) per share. William Blair also issued estimates for Chinook Therapeutics' Q3 2023 earnings at ($0.86) EPS, Q4 2023 earnings at ($0.82) EPS, Q1 2024 earnings at ($0.80) EPS, Q2 2024 earnings at ($0.81) EPS, Q3 2024 earnings at ($0.82) EPS, Q4 2024 earnings at ($0.85) EPS, FY2024 earnings at ($3.28) EPS, FY2025 earnings at ($3.45) EPS and FY2026 earnings at ($2.84) EPS. A number of other analysts have also recently commented on the company. SVB Leerink cut Chinook Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 13th. Guggenheim lowered shares of Chinook Therapeutics from a "buy" rating to a "neutral" rating in a research report on Monday, June 12th. Bloom Burton downgraded shares of Chinook Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, June 12th. Evercore ISI cut shares of Chinook Therapeutics to an "outperform" rating in a report on Wednesday, June 14th. Finally, HC Wainwright downgraded shares of Chinook Therapeutics from a "buy" rating to a "neutral" rating in a research report on Tuesday, June 13th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Chinook Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $38.14. NASDAQ KDNY opened at $40.39 on Thursday. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -11.47 and a beta of 0.34. Chinook Therapeutics has a 1-year low of $18.34 and a 1-year high of $40.51. The business's fifty day moving average price is $37.56 and its 200-day moving average price is $27.77. Chinook Therapeutics ( NASDAQ:KDNY - Get Free Report ) last posted its earnings results on Tuesday, May 9th. The company reported ($0.85) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.03). The company had revenue of $1.83 million during the quarter, compared to the consensus estimate of $0.14 million. Chinook Therapeutics had a negative return on equity of 58.28% and a negative net margin of 4,199.93%. The firm's revenue was down 32.2% on a year-over-year basis. Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Natixis bought a new position in Chinook Therapeutics in the 2nd quarter worth approximately $52,000. Credit Suisse AG boosted its stake in Chinook Therapeutics by 51.6% in the 2nd quarter. Credit Suisse AG now owns 51,931 shares of the company's stock worth $1,995,000 after purchasing an additional 17,680 shares during the period. BlackRock Inc. boosted its stake in Chinook Therapeutics by 8.1% in the 2nd quarter. BlackRock Inc. now owns 4,263,241 shares of the company's stock worth $163,794,000 after purchasing an additional 320,702 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Chinook Therapeutics by 22.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,790 shares of the company's stock worth $184,000 after purchasing an additional 880 shares during the period. Finally, Sand Grove Capital Management LLP bought a new position in Chinook Therapeutics in the 2nd quarter worth approximately $12,140,000. 95.15% of the stock is currently owned by institutional investors. In related news, insider Andrew James King sold 1,168 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $39.03, for a total value of $45,587.04. Following the completion of the sale, the insider now directly owns 19,157 shares of the company's stock, valued at approximately $747,697.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink . In other Chinook Therapeutics news, Director William Mariner Greenman sold 1,155 shares of the company's stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $23.30, for a total value of $26,911.50. Following the completion of the transaction, the director now directly owns 23,643 shares in the company, valued at approximately $550,881.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website . Also, insider Andrew James King sold 1,168 shares of the company's stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $39.03, for a total value of $45,587.04. Following the completion of the transaction, the insider now owns 19,157 shares of the company's stock, valued at $747,697.71. The disclosure for this sale can be found here . 16.79% of the stock is currently owned by insiders. ( Get Free Report ) Chinook Therapeutics, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of precision medicines for kidney diseases. The company's lead clinical program is atrasentan, a Phase III endothelin receptor antagonist for the treatment of IgA nephropathy and other proteinuric glomerular diseases. Receive News & Ratings for Chinook Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chinook Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter .