Kodiak Sciences Inc. $KOD Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management increased its Kodiak Sciences position by 81.9% in the second quarter, acquiring 357,284 additional shares and bringing its holdings to 793,613 shares valued at approximately $30.9 million. Institutional investors and hedge funds collectively own 89.06% of the company.
• Kodiak Sciences reported quarterly EPS of -$1.05, missing the consensus estimate of -$0.96. Analysts expect a full-year loss of approximately $3.89 per share.
• Analyst sentiment remains mixed but leans positive: six analysts rate the stock Buy, one rates it Hold, and one rates it Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $48.14.

Wellington Management Group LLP lifted its position in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 81.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 793,613 shares of the company's stock after acquiring an additional 357,284 shares during the period. Wellington Management Group LLP owned 1.27% of Kodiak Sciences worth $30,919,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Westfuller Advisors LLC acquired a new position in Kodiak Sciences during the 1st quarter valued at about $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Kodiak Sciences in the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Kodiak Sciences by 1,221.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company's stock valued at $28,000 after purchasing an additional 916 shares during the period. Headlands Technologies LLC raised its holdings in shares of Kodiak Sciences by 256.4% during the second 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 during the last quarter. Finally, KBC Group NV bought a new stake in shares of Kodiak Sciences during the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 89.06% of the company's stock.

Kodiak Sciences Price Performance

KOD opened at $35.36 on Friday. The business has a 50 day moving average price of $40.33 and a two-hundred day moving average price of $36.50. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -8.44 and a beta of 2.18. Kodiak Sciences Inc. has a 1-year low of $8.55 and a 1-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 -3.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Kodiak Sciences Company 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.

Want to see what other hedge funds are holding KOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kodiak Sciences Inc. (NASDAQ:KOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source