Legal & General Group Plc acquired a new stake in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 29,309 shares of the company's stock, valued at approximately $1,142,000.
A number of other institutional investors have also recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in Kodiak Sciences in the second quarter valued at about $1,072,000. The Manufacturers Life Insurance Company grew its stake in Kodiak Sciences by 31.8% during the first quarter. The Manufacturers Life Insurance Company now owns 120,629 shares of the company's stock worth $4,598,000 after buying an additional 29,121 shares in the last quarter. California State Teachers Retirement System grew its stake in Kodiak Sciences by 1,358.9% during the first quarter. California State Teachers Retirement System now owns 29,396 shares of the company's stock worth $1,121,000 after buying an additional 27,381 shares in the last quarter. Algert Global LLC increased its holdings in Kodiak Sciences by 26.1% in the 2nd quarter. Algert Global LLC now owns 186,476 shares of the company's stock valued at $7,265,000 after buying an additional 38,546 shares during the period. Finally, Swiss National Bank bought a new position in Kodiak Sciences in the 1st quarter valued at about $2,188,000. 89.06% of the stock is currently owned by institutional investors.
Kodiak Sciences Stock Performance
Kodiak Sciences stock opened at $35.36 on Tuesday. The stock has a 50-day moving average price of $40.29 and a two-hundred day moving average price of $36.69. Kodiak Sciences Inc. has a 12 month low of $8.55 and a 12 month high of $47.84. The company has a market capitalization of $2.22 billion, a PE ratio of -8.44 and a beta of 2.18.
Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.09). As a group, analysts predict that Kodiak Sciences Inc. will post -3.89 earnings per share for the current fiscal year.
Analysts Set New Price Targets
KOD has been the subject of several analyst reports. Chardan Capital upgraded shares of Kodiak Sciences from a "neutral" rating to a "buy" rating and boosted their target price for the company from $14.00 to $61.00 in a research report on Monday, May 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Wall Street Zen cut shares of Kodiak Sciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. boosted their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Finally, HC Wainwright restated a "buy" rating and set a $58.00 target price on shares of Kodiak Sciences in a research note on Monday, August 17th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.14.
Check Out Our Latest Analysis on Kodiak Sciences
About Kodiak Sciences
(
Free Report)
Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company's proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak's research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.
The lead product candidate in Kodiak's pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.
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