ICONIQ Capital LLC Purchases 249,699 Shares of Kodiak Sciences Inc. $KOD

Key Points

• ICONIQ Capital LLC increased its stake in Kodiak Sciences Inc. by 24.6%, acquiring an additional 249,699 shares, bringing its total ownership to approximately 1.27 million shares valued at $3.56 million.
• Several institutional investors, including Price T Rowe Associates with a whopping 10,982.6% increase in ownership, are showing significant interest in Kodiak Sciences, which now has 89.06% of its stock owned by institutional investors.
• Analysts have raised price targets for Kodiak Sciences, with Barclays increasing it to $7.00 and JPMorgan Chase setting a new target of $15.00, reflecting varied perspectives on the company's market performance.

ICONIQ Capital LLC grew its position in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 24.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,266,563 shares of the company's stock after purchasing an additional 249,699 shares during the period. ICONIQ Capital LLC owned approximately 2.40% of Kodiak Sciences worth $3,559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of KOD. Price T Rowe Associates Inc. MD boosted its position in Kodiak Sciences by 10,982.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,268,509 shares of the company's stock valued at $12,622,000 after purchasing an additional 1,257,063 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Kodiak Sciences during the fourth quarter valued at approximately $11,338,000. Boxer Capital Management LLC acquired a new position in Kodiak Sciences during the fourth quarter valued at approximately $9,950,000. Point72 Asset Management L.P. acquired a new position in Kodiak Sciences during the fourth quarter valued at approximately $5,211,000. Finally, Invesco Ltd. boosted its position in Kodiak Sciences by 545.7% during the fourth quarter. Invesco Ltd. now owns 519,010 shares of the company's stock valued at $5,164,000 after purchasing an additional 438,635 shares during the last quarter. Institutional investors own 89.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Barclays increased their price target on Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. raised Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target for the company in a research report on Thursday, August 14th. Finally, HC Wainwright increased their price target on Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $11.75.

Kodiak Sciences Stock Up 5.0%

KOD opened at $10.20 on Friday. Kodiak Sciences Inc. has a 12-month low of $1.92 and a 12-month high of $11.60. The stock has a market cap of $538.76 million, a price-to-earnings ratio of -2.68 and a beta of 2.41. The business has a 50 day moving average of $6.18 and a 200-day moving average of $4.56.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its quarterly earnings data 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, analysts expect that Kodiak Sciences Inc. will post -3.45 earnings per share 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.

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