Chinook Therapeutics (KDNY) Short Interest Ratio & Short Volume

Short interest is the volume of Chinook Therapeutics shares that have been sold short but have not yet been covered or closed out. As of July 31st, investors have sold 2,880,000 shares of KDNY short. Learn More on Chinook Therapeutics' current short interest.

The short interest ratio, also known as the "days to cover ratio", is calculated by dividing the number of shares of a stock sold short divided by its average trading volume. A short interest ratio ranging between 1 and 4 generally indicates strong positive sentiment about a stock and a lack of short sellers. A short interest ratio of 10 or greater indicates strong pessimism about a stock. KDNY shares currently have a short interest ratio of 2.0. Learn More on Chinook Therapeutics's short interest ratio.

Chinook Therapeutics saw a drop in short interest during the month of July. As of July 31st, there was short interest totaling 2,880,000 shares, a drop of 13.5% from the previous total of 3,330,000 shares. Changes in short volume can be used to identify positive and negative investor sentiment. Investors that short sell a stock are betting that its price will decline in the future. An increase in short sale volume suggests bearish (negative) sentiment among investors. A decrease on short sale volume suggests bullish (positive) sentiment.

Here is how the short interest of companies in the sector of "medical" compare to Chinook Therapeutics: Crinetics Pharmaceuticals, Inc. (7.50%), RayzeBio, Inc. (2.32%), Verona Pharma plc (7.51%), Akero Therapeutics, Inc. (11.83%), 89bio, Inc. (11.77%), Icosavax, Inc. (0.99%), Gracell Biotechnologies Inc. (1.64%), ImmunoGen, Inc. (7.74%), Roivant Sciences Ltd. (8.18%), HUTCHMED (China) Limited (0.30%),

As of the most recent reporting period, the following stocks had the largest short interest positions: Charter Communications, Inc. ($3.34 billion), Occidental Petroleum Co. ($2.88 billion), Coinbase Global, Inc. ($2.50 billion), Rivian Automotive, Inc. ($2.47 billion), Palantir Technologies Inc. ($2.37 billion), Royal Caribbean Cruises Ltd. ($2.33 billion), T. Rowe Price Group, Inc. ($2.29 billion), Tractor Supply ($1.59 billion), Upstart Holdings, Inc. ($1.58 billion), and Enphase Energy, Inc. ($1.52 billion). View all of the most shorted stocks.

Short selling KDNY is an investing strategy that aims to generate trading profit from Chinook Therapeutics as its price is falling. To short a stock, an investor borrows shares, sells them and buys the shares back on the public market later to return it to the lender. Short sellers are betting that a stock will decline in price. If the stock does drop after selling, the short seller buys it back at a lower price and returns it to the lender. The difference between the sell price and the buy price is the trader's profit.

A short squeeze for Chinook Therapeutics occurs when it has a large amount of short interest and its stock appreciates in price. This forces short sellers to cover their short interest positions by buying actual shares of KDNY, which in turn drives the price of the stock up even further.

Short interest is typically published by a stock exchange once per month. However, NASDAQ publishes a report for U.S. stocks, including KDNY, twice per month. The most recent reporting period available is July, 31 2023.