Adage Capital Partners GP L.L.C. Makes New Investment in Kodiak Sciences Inc. (NASDAQ:KOD)

Adage Capital Partners GP L.L.C. acquired a new position in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,139,527 shares of the company's stock, valued at approximately $11,338,000. Adage Capital Partners GP L.L.C. owned 2.17% of Kodiak Sciences as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in Kodiak Sciences by 10,982.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,268,509 shares of the company's stock valued at $12,622,000 after buying an additional 1,257,063 shares in the last quarter. Silverarc Capital Management LLC increased its stake in shares of Kodiak Sciences by 100.0% during the 4th quarter. Silverarc Capital Management LLC now owns 1,000,000 shares of the company's stock worth $9,950,000 after purchasing an additional 500,000 shares during the last quarter. State Street Corp increased its stake 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 acquiring an additional 14,711 shares during the period. Geode Capital Management LLC boosted its holdings in Kodiak Sciences by 1.7% during the third quarter. Geode Capital Management LLC now owns 768,740 shares of the company's stock valued at $2,007,000 after purchasing an additional 12,783 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Kodiak Sciences by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 521,237 shares of the company's stock valued at $5,186,000 after purchasing an additional 26,058 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Kodiak Sciences Stock Performance

KOD traded up $0.13 during trading on Thursday, reaching $4.49. 435,979 shares of the company's stock were exchanged, compared to its average volume of 343,364. The firm has a market capitalization of $236.86 million, a PE ratio of -1.23 and a beta of 2.40. Kodiak Sciences Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $11.60. The company's fifty day moving average price is $3.24 and its 200-day moving average price is $5.43.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.06. Research analysts forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

About Kodiak Sciences

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.