Cubist Systematic Strategies LLC Makes New $345,000 Investment in 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 bought a new position in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 122,931 shares of the company's stock, valued at approximately $345,000. Cubist Systematic Strategies LLC owned about 0.23% of Kodiak Sciences as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. US Bancorp DE increased 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 worth $26,000 after purchasing an additional 5,276 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Kodiak Sciences in the first quarter worth approximately $28,000. Walleye Capital LLC purchased a new position in shares of Kodiak Sciences in the first quarter worth approximately $49,000. Russell Investments Group Ltd. increased its position in shares of Kodiak Sciences by 729.9% in the first quarter. Russell Investments Group Ltd. now owns 21,039 shares of the company's stock worth $59,000 after acquiring an additional 18,504 shares in the last quarter. Finally, Aries Wealth Management purchased a new position in shares of Kodiak Sciences in the first quarter worth approximately $70,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on KOD shares. HC Wainwright lifted their price objective on shares of Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Barclays lifted their price target on Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a report on Thursday, August 14th. Finally, 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 report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Kodiak Sciences presently has an average rating of "Hold" and an average price target of $11.75.

Kodiak Sciences Stock Down 1.3%

Shares of Kodiak Sciences stock traded down $0.12 on Wednesday, hitting $9.21. 228,672 shares of the company traded hands, compared to its average volume of 478,960. The company has a 50-day moving average price of $8.19 and a 200 day moving average price of $5.13. Kodiak Sciences Inc. has a 12-month low of $1.92 and a 12-month high of $11.60. The company has a market cap of $486.47 million, a PE ratio of -2.42 and a beta of 2.45.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.02). Equities research analysts anticipate that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Kodiak Sciences Company 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.