Cubist Systematic Strategies LLC Purchases Shares of 122,931 Kodiak Sciences Inc. $KOD

Key Points

• Cubist Systematic Strategies LLC has acquired a new stake in Kodiak Sciences Inc. valued at approximately $345,000, representing about 0.23% of the company following its recent 13F filing.
• Analysts have adjusted their price targets for Kodiak Sciences, with Barclays raising it to $7.00 and JPMorgan upgrading the stock to a "neutral" rating with a price target of $15.00.
• Kodiak Sciences reported less favorable earnings with an EPS of ($1.03), missing the consensus estimate, and analysts forecast a further -3.45 EPS for the current fiscal year.

Cubist Systematic Strategies LLC purchased a new position in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 122,931 shares of the company's stock, valued at approximately $345,000. Cubist Systematic Strategies LLC owned 0.23% of Kodiak Sciences at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE raised its position in shares of Kodiak Sciences by 131.7% during the 1st quarter. US Bancorp DE now owns 9,282 shares of the company's stock worth $26,000 after purchasing an additional 5,276 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Kodiak Sciences during the 1st quarter worth approximately $28,000. Public Employees Retirement System of Ohio raised its position 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 period. Walleye Capital LLC acquired a new stake in shares of Kodiak Sciences during the 1st quarter worth approximately $49,000. Finally, Russell Investments Group Ltd. raised its position in shares of Kodiak Sciences by 729.9% during the 1st quarter. Russell Investments Group Ltd. now owns 21,039 shares of the company's stock worth $59,000 after purchasing an additional 18,504 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Price Performance

KOD stock traded down $0.67 on Friday, reaching $9.25. The company's stock had a trading volume of 373,109 shares, compared to its average volume of 609,787. Kodiak Sciences Inc. has a 52 week low of $1.92 and a 52 week high of $11.60. The company has a market capitalization of $488.60 million, a P/E ratio of -2.43 and a beta of 2.45. The firm has a fifty day moving average of $7.88 and a two-hundred day moving average of $5.02.

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

Wall Street Analyst Weigh In

KOD has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded 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. Barclays increased their price target on Kodiak Sciences from $4.00 to $7.00 and gave the stock an "underweight" rating in a research report on Thursday, August 14th. Finally, HC Wainwright increased their price objective on Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $11.75.

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.