Long Position on KDNY @ $18.65 on 7/8/2022 (Momentum)

Chinook Therapeutics, Inc. (KDNY) is  a clinical-stage biotechnology company. 

The 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.

Its product candidates also include BION-1301, an anti-APRIL monoclonal antibody is being evaluated in a Phase I/II trial for IgA nephropathy; and CHK-336, an oral small molecule LDHA inhibitor for the treatment of primary hyperoxaluria, as well as research programs for other rare and severe chronic kidney diseases.

Shares have formed a bullish "flag" and shares are expected to move higher from this formation.

Entry Point: $18.65

Trading Range: $10.48 to $19.67

Stop Loss: $17.60

Target Price: $21.50

Position closed on 8/4/2022 at price of $20.45 with a 9.65% gain in 27 days.

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