Kodiak Sciences Inc. $KOD is Braidwell LP's 9th Largest Position

Key Points

• Braidwell LP reduced its Kodiak Sciences stake by 1.7% in the second quarter, selling 31,347 shares. It still held 1.79 million shares worth approximately $69.6 million, representing 2.6% of its portfolio and 2.84% of Kodiak’s outstanding stock.
• Institutional investors own approximately 89.06% of Kodiak Sciences, with several funds initiating or increasing positions during recent quarters.
• Analyst sentiment remains mixed but leans positive: Kodiak has a consensus “Moderate Buy” rating and a $48.14 price target, despite missing quarterly EPS estimates and receiving some sell ratings.

Braidwell LP lessened its position in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,787,318 shares of the company's stock after selling 31,347 shares during the quarter. Kodiak Sciences accounts for approximately 2.6% of Braidwell LP's portfolio, making the stock its 9th largest holding. Braidwell LP owned about 2.84% of Kodiak Sciences worth $69,634,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KOD. Westfuller Advisors LLC purchased a new position in shares of Kodiak Sciences in the 1st quarter worth about $26,000. V Square Quantitative Management LLC purchased a new position in shares of Kodiak Sciences during the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company's stock valued at $28,000 after buying an additional 916 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of Kodiak Sciences by 256.4% during the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock valued at $30,000 after buying an additional 5,815 shares in the last quarter. Finally, KBC Group NV bought a new stake in Kodiak Sciences in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 89.06% of the company's stock.

Kodiak Sciences Trading Up 1.2%

NASDAQ KOD opened at $37.50 on Thursday. Kodiak Sciences Inc. has a 1-year low of $8.29 and a 1-year high of $47.84. The stock has a 50-day moving average of $40.30 and a 200-day moving average of $36.41. The firm has a market cap of $2.36 billion, a PE ratio of -8.95 and a beta of 2.18.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted 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). As a group, equities research analysts forecast that Kodiak Sciences Inc. will post -3.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on KOD. Wall Street Zen lowered Kodiak Sciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Chardan Capital raised shares of Kodiak Sciences from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $14.00 to $61.00 in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $58.00 target price on shares of Kodiak Sciences in a report on Monday, August 17th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.14.

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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