4,135,355 Shares in Kodiak Sciences Inc. $KOD Bought by BlackRock Inc.

Key Points

• BlackRock acquired 4.14 million Kodiak Sciences shares worth approximately $161.1 million, giving it a 6.61% stake. Institutional investors collectively own 89.06% of the company.
• Analyst sentiment is mixed but leans positive: six analysts rate KOD a Buy, one Hold, and one Sell, producing a consensus “Moderate Buy” rating and a $48.14 price target.
• Kodiak Sciences reported a quarterly loss of $1.05 per share, missing estimates by $0.09. The stock opened at $37.72, compared with a 52-week range of $8.29 to $47.84.

BlackRock Inc. bought a new stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,135,355 shares of the company's stock, valued at approximately $161,113,000. BlackRock Inc. owned approximately 6.61% of Kodiak Sciences as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in Kodiak Sciences by 1,358.9% during the 1st 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 during the period. GSA Capital Partners LLP bought a new stake in Kodiak Sciences in the 2nd quarter valued at $1,072,000. The Manufacturers Life Insurance Company boosted its stake in Kodiak Sciences by 31.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 120,629 shares of the company's stock worth $4,598,000 after purchasing an additional 29,121 shares during the period. Swiss National Bank acquired a new position in Kodiak Sciences in the 1st quarter worth $2,188,000. Finally, Profund Advisors LLC bought a new position in Kodiak Sciences during the 4th quarter worth about $618,000. 89.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on KOD. HC Wainwright reissued a "buy" rating and issued a $58.00 target price on shares of Kodiak Sciences in a research report on Monday, August 17th. Wall Street Zen downgraded Kodiak Sciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Chardan Capital raised shares of Kodiak Sciences from a "neutral" rating to a "buy" rating and raised their price target for the stock from $14.00 to $61.00 in a research note on Monday, May 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kodiak Sciences in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.14.

Kodiak Sciences Stock Performance

Shares of NASDAQ:KOD opened at $37.72 on Friday. Kodiak Sciences Inc. has a 52-week low of $8.29 and a 52-week high of $47.84. The company has a market capitalization of $2.37 billion, a P/E ratio of -9.00 and a beta of 2.21. The company has a 50-day simple moving average of $40.25 and a 200 day simple moving average of $36.02.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.09). As a group, equities analysts forecast that Kodiak Sciences Inc. will post -3.83 earnings per share for the current year.

About Kodiak Sciences

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.

Want to see what other hedge funds are holding KOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kodiak Sciences Inc. (NASDAQ:KOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source