Algert Global LLC Purchases 38,546 Shares of Kodiak Sciences Inc. $KOD

Key Points

• Algert Global increased its Kodiak Sciences stake by 26.1% in the second quarter, purchasing 38,546 shares and ending with 186,476 shares valued at approximately $7.3 million. Institutional investors collectively own 89.06% of the company.
• Kodiak Sciences reported a quarterly loss of $1.05 per share, missing analysts’ $0.96 loss estimate; analysts expect a full-year loss of $3.83 per share.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $48.14, although ratings range from “buy” to “sell.” The company’s lead candidate, KSI-301, is being developed for retinal diseases including wet AMD and diabetic macular edema.

Algert Global LLC increased its stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 26.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,476 shares of the company's stock after purchasing an additional 38,546 shares during the quarter. Algert Global LLC owned about 0.30% of Kodiak Sciences worth $7,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Kodiak Sciences during the second quarter valued at approximately $161,113,000. Baker BROS. Advisors LP lifted its holdings in shares of Kodiak Sciences by 15.1% during the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company's stock valued at $556,940,000 after purchasing an additional 2,608,696 shares in the last quarter. Braidwell LP acquired a new position in shares of Kodiak Sciences in the 4th quarter valued at approximately $57,955,000. RTW Investments LP acquired a new position in shares of Kodiak Sciences in the 4th quarter valued at approximately $41,603,000. Finally, ICONIQ Capital LLC bought a new stake in Kodiak Sciences during the 2nd quarter worth approximately $49,345,000. 89.06% of the stock is owned by institutional investors.

Kodiak Sciences Price Performance

NASDAQ:KOD opened at $39.33 on Thursday. Kodiak Sciences Inc. has a one year low of $8.29 and a one year high of $47.84. The company has a market cap of $2.47 billion, a PE ratio of -9.39 and a beta of 2.21. The firm's 50 day simple moving average is $40.16 and its 200 day simple moving average is $35.89.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Equities research analysts expect that Kodiak Sciences Inc. will post -3.83 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on KOD. JPMorgan Chase & Co. boosted their target price on Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Wall Street Zen cut Kodiak Sciences from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kodiak Sciences in a report on Friday, July 10th. HC Wainwright restated a "buy" rating and issued a $58.00 price target on shares of Kodiak Sciences in a research note on Monday, August 17th. Finally, Chardan Capital raised Kodiak Sciences from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $48.14.

Kodiak Sciences Profile

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.

Want to see what other hedge funds are holding KOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kodiak Sciences Inc. (NASDAQ:KOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source