Acadian Asset Management LLC Has $5.45 Million Position in Kodiak Sciences Inc. $KOD

Key Points

• Acadian Asset Management LLC increased its stake in Kodiak Sciences by 27%, holding 1,946,134 shares valued at approximately $5.45 million.
• The company's shares opened at $9.25 but have seen a drop of 6.8%, with a market cap of $488.60 million.
• Analysts have mixed ratings for Kodiak Sciences, with a consensus target price of $11.75 and varying opinions on its investment potential.

Acadian Asset Management LLC raised its stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,946,134 shares of the company's stock after purchasing an additional 413,821 shares during the period. Acadian Asset Management LLC owned 3.69% of Kodiak Sciences worth $5,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its holdings in Kodiak Sciences by 441.3% during the first quarter. Jane Street Group LLC now owns 64,649 shares of the company's stock valued at $181,000 after purchasing an additional 52,705 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Kodiak Sciences during the first quarter valued at approximately $94,000. Jacobs Levy Equity Management Inc. grew its holdings in Kodiak Sciences by 90.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company's stock valued at $1,922,000 after purchasing an additional 324,722 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Kodiak Sciences in the first quarter valued at approximately $188,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Kodiak Sciences by 16.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,325,707 shares of the company's stock valued at $3,719,000 after acquiring an additional 186,180 shares during the period. Institutional investors and hedge funds own 89.06% of the company's stock.

Kodiak Sciences Trading Up 6.8%

KOD stock traded up $0.63 during midday trading on Thursday, hitting $9.84. The stock had a trading volume of 282,949 shares, compared to its average volume of 441,488. The firm has a market capitalization of $519.75 million, a price-to-earnings ratio of -2.59 and a beta of 2.45. Kodiak Sciences Inc. has a 52 week low of $1.92 and a 52 week high of $11.60. The stock has a 50-day simple moving average of $8.30 and a 200 day simple moving average of $5.17.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.02). On average, equities analysts forecast that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KOD shares. Barclays increased their price objective on Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a research report on Thursday, August 14th. HC Wainwright increased their price objective on Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. raised Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price objective for the company in a research report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.75.

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.