Boxer Capital Management LLC Takes $9.95 Million Position in Kodiak Sciences Inc. (NASDAQ:KOD)

Boxer Capital Management LLC bought a new stake in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,000,000 shares of the company's stock, valued at approximately $9,950,000. Boxer Capital Management LLC owned approximately 1.90% of Kodiak Sciences at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KOD. Price T Rowe Associates Inc. MD increased its stake in shares of Kodiak Sciences by 10,982.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,268,509 shares of the company's stock worth $12,622,000 after purchasing an additional 1,257,063 shares during the last quarter. TCG Crossover Management LLC raised its stake in Kodiak Sciences by 13.6% in the fourth quarter. TCG Crossover Management LLC now owns 1,145,538 shares of the company's stock valued at $11,398,000 after buying an additional 137,380 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Kodiak Sciences in the fourth quarter valued at approximately $11,338,000. Silverarc Capital Management LLC boosted 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 acquiring an additional 500,000 shares during the period. Finally, State Street Corp increased its holdings in shares of Kodiak Sciences by 1.8% during the 3rd quarter. State Street Corp now owns 816,634 shares of the company's stock worth $2,131,000 after acquiring an additional 14,711 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kodiak Sciences Stock Up 2.5 %

Shares of Kodiak Sciences stock traded up $0.12 on Monday, hitting $4.92. The stock had a trading volume of 658,178 shares, compared to its average volume of 345,606. The stock has a market cap of $259.54 million, a price-to-earnings ratio of -1.35 and a beta of 2.42. The business's 50 day moving average is $3.27 and its two-hundred day moving average is $5.49. Kodiak Sciences Inc. has a twelve month low of $1.92 and a twelve month high of $11.60.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its quarterly earnings data 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. As a group, equities analysts predict that Kodiak Sciences Inc. will post -3.45 earnings per share 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.