Adage Capital Partners GP L.L.C. lifted its holdings in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 16.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,325,707 shares of the company's stock after purchasing an additional 186,180 shares during the quarter. Adage Capital Partners GP L.L.C. owned 2.51% of Kodiak Sciences worth $3,719,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. ICONIQ Capital LLC increased its stake in Kodiak Sciences by 24.6% in the first quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company's stock valued at $3,559,000 after acquiring an additional 249,699 shares during the last quarter. Nantahala Capital Management LLC lifted its holdings in shares of Kodiak Sciences by 99.1% during the first quarter. Nantahala Capital Management LLC now owns 530,713 shares of the company's stock worth $1,489,000 after purchasing an additional 264,100 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Kodiak Sciences during the fourth quarter worth $5,211,000. Dimensional Fund Advisors LP lifted its holdings in shares of Kodiak Sciences by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 521,237 shares of the company's stock worth $5,186,000 after purchasing an additional 26,058 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Kodiak Sciences by 2.9% during the fourth quarter. Northern Trust Corp now owns 269,597 shares of the company's stock worth $2,682,000 after purchasing an additional 7,678 shares during the period. 89.06% of the stock is owned by institutional investors.
Kodiak Sciences Stock Performance
NASDAQ:KOD traded down $0.75 during trading hours on Friday, reaching $9.17. The company's stock had a trading volume of 97,764 shares, compared to its average volume of 449,218. The firm has a market capitalization of $484.41 million, a price-to-earnings ratio of -2.43 and a beta of 2.45. Kodiak Sciences Inc. has a 1 year low of $1.92 and a 1 year high of $11.60. The firm has a 50-day simple moving average of $7.77 and a 200-day simple moving average of $4.98.
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). Equities analysts anticipate that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
KOD has been the subject of several research analyst reports. HC Wainwright lifted their price target on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research note 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 target price for the company in a research report on Thursday, August 14th. Finally, Barclays boosted their target price on shares of Kodiak Sciences from $4.00 to $7.00 and gave the stock an "underweight" rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $11.75.
Check Out Our Latest Analysis on Kodiak Sciences
About Kodiak Sciences
(
Free Report)
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.
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