Jacobs Levy Equity Management Inc. Boosts Stake in Kodiak Sciences Inc. $KOD

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Kodiak Sciences by 90.1%, owning 685,198 shares valued at approximately $1.92 million.
• Kodiak Sciences' stock price opened at $9.73 and has a market cap of $513.94 million, with a 1-year high of $11.60 and a low of $1.92.
• Analyst ratings on Kodiak Sciences vary, with one rating as a Buy and two as Hold, while the average price target stands at $11.75.

Jacobs Levy Equity Management Inc. grew its holdings in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 90.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 685,198 shares of the company's stock after buying an additional 324,722 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.30% of Kodiak Sciences worth $1,922,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Kodiak Sciences in the first quarter worth $392,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Kodiak Sciences by 16.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,325,707 shares of the company's stock worth $3,719,000 after acquiring an additional 186,180 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Kodiak Sciences in the fourth quarter worth $902,000. GSA Capital Partners LLP raised its holdings in shares of Kodiak Sciences by 163.6% in the first quarter. GSA Capital Partners LLP now owns 205,833 shares of the company's stock worth $577,000 after acquiring an additional 127,748 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of Kodiak Sciences in the first quarter worth $28,000. 89.06% of the stock is owned by institutional investors and hedge funds.

Kodiak Sciences Stock Down 6.8%

Shares of NASDAQ:KOD traded down $0.67 during midday trading 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. The firm has a market cap of $488.60 million, a price-to-earnings ratio of -2.43 and a beta of 2.45. Kodiak Sciences Inc. has a 1 year low of $1.92 and a 1 year high of $11.60. The business has a 50 day moving average price of $7.88 and a 200 day moving average price of $5.02.

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

Analyst Ratings Changes

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