GSA Capital Partners LLP Takes $1.07 Million Position in Kodiak Sciences Inc. $KOD

Key Points

• GSA Capital Partners acquired 27,525 shares of Kodiak Sciences in the second quarter, valued at approximately $1.07 million. Institutional investors and hedge funds collectively own 89.06% of the company.
• Analyst sentiment is mixed but leans positive: six analysts rate the stock a Buy, one rates it Hold and one Sell, producing a “Moderate Buy” consensus with an average price target of $48.14.
• Kodiak Sciences reported a quarterly loss of $1.05 per share, missing the $0.96 consensus estimate. The stock opened at $40.98 and has traded between $8.29 and $47.84 over the past year.

GSA Capital Partners LLP acquired a new stake in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,525 shares of the company's stock, valued at approximately $1,072,000.

Several other hedge funds have also added to or reduced their stakes in the business. Baker BROS. Advisors LP increased its position in Kodiak Sciences by 15.1% in the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company's stock valued at $556,940,000 after acquiring an additional 2,608,696 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Kodiak Sciences by 18.6% during the fourth quarter. Vanguard Group Inc. now owns 2,313,395 shares of the company's stock worth $64,683,000 after purchasing an additional 363,103 shares during the period. Braidwell LP bought a new stake in shares of Kodiak Sciences in the fourth quarter worth $57,955,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Kodiak Sciences by 55.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company's stock worth $7,668,000 after purchasing an additional 730,000 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Kodiak Sciences by 108.1% in the fourth quarter. State Street Corp now owns 1,732,015 shares of the company's stock worth $48,427,000 after purchasing an additional 899,572 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Kodiak Sciences Price Performance

NASDAQ KOD opened at $40.98 on Tuesday. The stock has a market capitalization of $2.56 billion, a P/E ratio of -9.78 and a beta of 2.21. The business has a 50 day simple moving average of $39.33 and a 200 day simple moving average of $35.13. Kodiak Sciences Inc. has a one year low of $8.29 and a one year high of $47.84.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Equities analysts expect that Kodiak Sciences Inc. will post -3.74 earnings per share for the current year.

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.

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