Jacobs Levy Equity Management Inc. Acquires 324,722 Shares of 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 position in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 90.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 685,198 shares of the company's stock after purchasing an additional 324,722 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.30% of Kodiak Sciences worth $1,922,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. US Bancorp DE raised its holdings in Kodiak Sciences by 131.7% during the first quarter. US Bancorp DE now owns 9,282 shares of the company's stock worth $26,000 after acquiring an additional 5,276 shares in the last quarter. Deutsche Bank AG raised its stake in Kodiak Sciences by 8.9% in the first quarter. Deutsche Bank AG now owns 73,564 shares of the company's stock valued at $207,000 after buying an additional 6,018 shares during the period. Northern Trust Corp raised its stake in Kodiak Sciences by 2.9% in the fourth quarter. Northern Trust Corp now owns 269,597 shares of the company's stock valued at $2,682,000 after buying an additional 7,678 shares during the period. Ameriprise Financial Inc. raised its stake in Kodiak Sciences by 26.1% in the fourth quarter. Ameriprise Financial Inc. now owns 38,624 shares of the company's stock valued at $384,000 after buying an additional 7,996 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Kodiak Sciences by 183.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 14,759 shares of the company's stock valued at $147,000 after buying an additional 9,560 shares during the period. Institutional investors own 89.06% of the company's stock.

Analyst Upgrades and Downgrades

KOD has been the topic of several research analyst reports. HC Wainwright upped their price objective on Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. upgraded Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price objective on the stock in a research note on Thursday, August 14th. Finally, Barclays upped their target price on Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $11.75.

Kodiak Sciences Stock Down 0.2%

Shares of Kodiak Sciences stock traded down $0.02 on Tuesday, hitting $9.33. The stock had a trading volume of 419,079 shares, compared to its average volume of 504,188. The stock has a market cap of $492.81 million, a price-to-earnings ratio of -2.46 and a beta of 2.45. Kodiak Sciences Inc. has a twelve month low of $1.92 and a twelve month high of $11.60. The business's 50 day moving average is $8.10 and its two-hundred day moving average is $5.10.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its quarterly earnings results 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, equities analysts predict 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.