Federated Hermes Inc. Invests $236,000 in Kodiak Sciences Inc. (NASDAQ:KOD)

Key Points

• Federated Hermes Inc. acquired 84,006 shares of Kodiak Sciences Inc. for approximately $236,000, representing 0.16% of the company's stock.
• Kodiak Sciences reported a loss of ($1.09) earnings per share in its latest quarterly earnings, missing analysts' estimates by ($0.20).
• Institutional investors and hedge funds collectively own 89.06% of Kodiak Sciences, indicating strong interest from major financial entities.

Federated Hermes Inc. bought a new stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 84,006 shares of the company's stock, valued at approximately $236,000. Federated Hermes Inc. owned about 0.16% of Kodiak Sciences at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in shares of Kodiak Sciences during the fourth quarter worth $902,000. Vontobel Holding Ltd. bought a new position in shares of Kodiak Sciences during the first quarter worth $28,000. Dimensional Fund Advisors LP boosted its position in shares of Kodiak Sciences by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 521,237 shares of the company's stock worth $5,186,000 after acquiring an additional 26,058 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Kodiak Sciences by 194.9% during the fourth quarter. JPMorgan Chase & Co. now owns 131,646 shares of the company's stock worth $1,310,000 after acquiring an additional 86,998 shares during the last quarter. Finally, Nantahala Capital Management LLC boosted its position in shares of Kodiak Sciences by 287.2% during the fourth quarter. Nantahala Capital Management LLC now owns 266,613 shares of the company's stock worth $2,653,000 after acquiring an additional 197,756 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Kodiak Sciences Price Performance

Shares of NASDAQ:KOD traded up $0.49 during midday trading on Tuesday, reaching $8.52. 463,978 shares of the company were exchanged, compared to its average volume of 648,920. The business's fifty day moving average is $5.14 and its two-hundred day moving average is $4.34. Kodiak Sciences Inc. has a one year low of $1.92 and a one year high of $11.60.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($1.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.20). As a group, sell-side analysts expect that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

About Kodiak Sciences

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.