Kodiak Sciences Inc. $KOD Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. grew its stake in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & 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 approximately 2.51% of Kodiak Sciences worth $3,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE lifted its stake in Kodiak Sciences by 131.7% in the 1st quarter. US Bancorp DE now owns 9,282 shares of the company's stock valued at $26,000 after buying an additional 5,276 shares in the last quarter. Deutsche Bank AG boosted its stake in Kodiak Sciences by 8.9% during the 1st quarter. Deutsche Bank AG now owns 73,564 shares of the company's stock worth $207,000 after purchasing an additional 6,018 shares during the last quarter. Northern Trust Corp grew 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 buying an additional 7,678 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Kodiak Sciences by 26.1% in the 4th quarter. Ameriprise Financial Inc. now owns 38,624 shares of the company's stock valued at $384,000 after acquiring an additional 7,996 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Kodiak Sciences by 183.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,759 shares of the company's stock worth $147,000 after purchasing an additional 9,560 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

Analysts Set New Price Targets

KOD has been the subject of several analyst reports. Barclays upped their target price on Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 target price on the stock in a report on Thursday, August 14th. Finally, 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 report on Monday, August 18th. 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 stock. Based on data from MarketBeat.com, Kodiak Sciences currently has a consensus rating of "Hold" and an average price target of $11.75.

Kodiak Sciences Trading Down 3.3%

Kodiak Sciences stock traded down $0.33 during trading on Wednesday, hitting $9.73. The company had a trading volume of 303,438 shares, compared to its average volume of 451,513. The stock has a market cap of $513.96 million, a price-to-earnings ratio of -2.56 and a beta of 2.44. Kodiak Sciences Inc. has a 1-year low of $1.92 and a 1-year high of $11.60. The company's 50 day simple moving average is $7.53 and its 200-day simple moving average is $4.91.

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

Kodiak Sciences 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.