Acadian Asset Management LLC Purchases 413,821 Shares of 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 increased its holdings in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 27.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,946,134 shares of the company's stock after acquiring an additional 413,821 shares during the period. Acadian Asset Management LLC owned about 3.69% of Kodiak Sciences worth $5,454,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of Kodiak Sciences during the fourth quarter valued at $5,211,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Kodiak Sciences by 90.1% in the 1st 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. Nantahala Capital Management LLC grew its position in shares of Kodiak Sciences by 99.1% during the 1st quarter. Nantahala Capital Management LLC now owns 530,713 shares of the company's stock worth $1,489,000 after buying an additional 264,100 shares during the period. ICONIQ Capital LLC raised its stake in shares of Kodiak Sciences by 24.6% during the first quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company's stock worth $3,559,000 after buying an additional 249,699 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Kodiak Sciences by 16.3% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,325,707 shares of the company's stock worth $3,719,000 after buying an additional 186,180 shares during the last quarter. Institutional investors own 89.06% of the company's stock.

Kodiak Sciences Trading Up 1.1%

Shares of NASDAQ:KOD traded up $0.10 during trading on Monday, hitting $9.35. 260,877 shares of the company were exchanged, compared to its average volume of 548,740. The stock has a market cap of $493.87 million, a price-to-earnings ratio of -2.46 and a beta of 2.44. The firm has a fifty day moving average price of $7.99 and a two-hundred day moving average price of $5.07. Kodiak Sciences Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $11.60.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.02). As a group, research analysts predict that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. HC Wainwright upped their target price on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. raised shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target on the stock in a research report on Thursday, August 14th. Finally, Barclays upped their price objective on shares of Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kodiak Sciences presently has an average rating of "Hold" and an average price target 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.