5 Biotech Stocks to Buy Now According to Srini Akkaraju and Michael Dybbs’ Samsara BioCapital

3. Chinook Therapeutics, Inc. (NASDAQ:KDNY)

Akkaraju and Dybbs’ Stake Value: $44,738,000
Percentage of Srini Akkaraju and Michael Dybbs’ 13F Portfolio: 5.52%
Number of Hedge Fund Holders: 14

Chinook Therapeutics, Inc. (NASDAQ:KDNY) is a clinical-stage biotechnology firm specializing in the research, development, and commercialization of kidney disease precision therapies. The company was established in 2018 and stands third on the list of 15 biotech stocks to buy now according to Srini Akkaraju and Michael Dybbs’ Samsara BioCapital. Chinook Therapeutics, Inc. (NASDAQ:KDNY) presently has a market capitalization of $570.3 million.

On August 12, Chinook Therapeutics, Inc. (NASDAQ:KDNY) announced earnings for the second quarter of 2021. It posted earnings per share of -$0.97, missing the estimates by $0.19. In addition, revenue over the period was $0.03 million, missing the estimates by $0.01 million.

The hedge fund chaired by Srini Akkaraju and Michael Dybbs currently owns 3.17 million shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY) worth over $44.74 million. Chinook Therapeutics, Inc. (NASDAQ:KDNY) occupies 5.52% of Samsara BioCapital’s overall equity. In addition, hedge funds are loading up on Chinook Therapeutics, Inc. (NASDAQ:KDNY), as Insider Monkey’s data shows that 19 hedge funds held stakes in the company in the second quarter of 2021, compared to 15 funds in the first quarter of 2021.