Adage Capital Partners GP L.L.C. Invests $11.34 Million in Kodiak Sciences Inc. (NASDAQ:KOD)

Adage Capital Partners GP L.L.C. purchased a new position in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,139,527 shares of the company's stock, valued at approximately $11,338,000. Adage Capital Partners GP L.L.C. owned about 2.17% of Kodiak Sciences as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in KOD. Barclays PLC lifted its position in shares of Kodiak Sciences by 65.5% during the 3rd quarter. Barclays PLC now owns 79,658 shares of the company's stock valued at $208,000 after buying an additional 31,527 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Kodiak Sciences by 220.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 44,648 shares of the company's stock valued at $117,000 after acquiring an additional 30,735 shares during the period. State Street Corp lifted its holdings in Kodiak Sciences by 1.8% during the third quarter. State Street Corp now owns 816,634 shares of the company's stock valued at $2,131,000 after purchasing an additional 14,711 shares during the last quarter. Peapod Lane Capital LLC bought a new position in Kodiak Sciences during the fourth quarter worth about $1,660,000. Finally, Geode Capital Management LLC increased its stake in shares of Kodiak Sciences by 1.7% in the third quarter. Geode Capital Management LLC now owns 768,740 shares of the company's stock worth $2,007,000 after purchasing an additional 12,783 shares in the last quarter. Institutional investors own 89.06% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "neutral" rating and set a $3.00 price target on shares of Kodiak Sciences in a research note on Monday, March 31st.

Kodiak Sciences Trading Up 6.9 %

Shares of KOD stock traded up $0.31 during trading hours on Friday, reaching $4.80. The stock had a trading volume of 615,630 shares, compared to its average volume of 344,350. The stock's fifty day simple moving average is $3.27 and its 200 day simple moving average is $5.47. The firm has a market capitalization of $253.21 million, a PE ratio of -1.32 and a beta of 2.40. Kodiak Sciences Inc. has a 12 month low of $1.92 and a 12 month high of $11.60.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.06. As a group, equities research analysts anticipate that Kodiak Sciences Inc. will post -3.45 EPS for the current fiscal year.

Kodiak Sciences Company Profile

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.