57,400 Shares in Kodiak Sciences Inc. $KOD Acquired by Swiss National Bank

Key Points

• Swiss National Bank acquired 57,400 shares of Kodiak Sciences during the first quarter, valued at approximately $2.19 million and representing about 0.09% of the company. Institutional investors collectively own 89.06% of KOD.
• Kodiak Sciences shares were trading at $42.50, up 6.2%, with the stock near its 12-month high of $47.84. The company reported a quarterly loss of $0.94 per share, slightly worse than analysts’ $0.93 estimate.
• Analyst sentiment is mixed but leans positive: six analysts rate KOD a Buy, one a Hold and one a Sell, producing a consensus “Moderate Buy” rating and a $42.14 price target. Chardan Capital upgraded the stock to Buy and raised its target to $61.

Swiss National Bank bought a new stake in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 57,400 shares of the company's stock, valued at approximately $2,188,000. Swiss National Bank owned approximately 0.09% of Kodiak Sciences at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. AQR Capital Management LLC bought a new position in shares of Kodiak Sciences in the 1st quarter worth $188,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Kodiak Sciences during the 1st quarter worth $94,000. Jane Street Group LLC grew its position in Kodiak Sciences by 441.3% in the first quarter. Jane Street Group LLC now owns 64,649 shares of the company's stock worth $181,000 after acquiring an additional 52,705 shares in the last quarter. American Century Companies Inc. grew its position in Kodiak Sciences by 6.3% in the second quarter. American Century Companies Inc. now owns 79,745 shares of the company's stock worth $297,000 after acquiring an additional 4,703 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Kodiak Sciences by 190.7% in the second quarter. Federated Hermes Inc. now owns 244,231 shares of the company's stock valued at $911,000 after acquiring an additional 160,225 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

Kodiak Sciences Trading Up 6.2%

Shares of NASDAQ:KOD opened at $42.50 on Friday. The stock has a market capitalization of $2.66 billion, a P/E ratio of -10.19 and a beta of 2.19. The stock's 50-day moving average price is $37.44 and its 200-day moving average price is $33.81. Kodiak Sciences Inc. has a 12-month low of $6.21 and a 12-month high of $47.84.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing analysts' consensus estimates of ($0.93) by ($0.01). As a group, research analysts predict that Kodiak Sciences Inc. will post -3.78 EPS for the current year.

Wall Street Analysts Forecast Growth

KOD has been the subject of several research analyst reports. Wall Street Zen raised Kodiak Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Chardan Capital upgraded Kodiak Sciences from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Kodiak Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $42.14.

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.

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