California State Teachers Retirement System increased its holdings in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 1,358.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,396 shares of the company's stock after purchasing an additional 27,381 shares during the period. California State Teachers Retirement System's holdings in Kodiak Sciences were worth $1,121,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KOD. The Manufacturers Life Insurance Company boosted its position in Kodiak Sciences by 31.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 120,629 shares of the company's stock worth $4,598,000 after acquiring an additional 29,121 shares during the last quarter. Quantinno Capital Management LP lifted its position in Kodiak Sciences by 35.1% during the 1st quarter. Quantinno Capital Management LP now owns 11,396 shares of the company's stock worth $434,000 after buying an additional 2,958 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Kodiak Sciences during the 1st quarter worth about $228,000. KBC Group NV acquired a new position in shares of Kodiak Sciences during the 1st quarter worth about $39,000. Finally, Swiss National Bank bought a new position in shares of Kodiak Sciences in the 1st quarter valued at about $2,188,000. 89.06% of the stock is owned by institutional investors and hedge funds.
Kodiak Sciences Price Performance
KOD stock opened at $41.35 on Friday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -9.87 and a beta of 2.21. The company has a 50 day simple moving average of $39.10 and a 200 day simple moving average of $34.95. Kodiak Sciences Inc. has a 1 year low of $8.29 and a 1 year high of $47.84.
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). On average, equities research analysts anticipate that Kodiak Sciences Inc. will post -3.74 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have recently commented on KOD. JPMorgan Chase & Co. lifted their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Chardan Capital raised shares of Kodiak Sciences from a "neutral" rating to a "buy" rating and upped their target price for the company from $14.00 to $61.00 in a report on Monday, May 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Finally, Wall Street Zen cut Kodiak Sciences from a "hold" rating to a "sell" rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Kodiak Sciences has an average rating of "Moderate Buy" and a consensus price target of $48.14.
Check Out Our Latest Stock Report on Kodiak Sciences
About Kodiak Sciences
(
Free Report)
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.
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