Nantahala Capital Management LLC Purchases 264,100 Shares of Kodiak Sciences Inc. $KOD

Key Points

• Nantahala Capital Management LLC has increased its stake in Kodiak Sciences by 99.1%, now holding approximately 530,713 shares valued at $1.49 million.
• Kodiak Sciences reported earnings of ($1.03) per share, which missed analysts' expectations of ($1.01).
• JPMorgan Chase & Co. upgraded Kodiak Sciences from an "underweight" to a "neutral" rating, setting a new price target of $15.00.

Nantahala Capital Management LLC raised its holdings in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 99.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,713 shares of the company's stock after purchasing an additional 264,100 shares during the quarter. Nantahala Capital Management LLC owned 1.01% of Kodiak Sciences worth $1,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. US Bancorp DE boosted its holdings in Kodiak Sciences by 131.7% during the 1st quarter. US Bancorp DE now owns 9,282 shares of the company's stock worth $26,000 after acquiring an additional 5,276 shares during the last quarter. Deutsche Bank AG lifted its holdings in Kodiak Sciences by 8.9% during the first quarter. Deutsche Bank AG now owns 73,564 shares of the company's stock valued at $207,000 after purchasing an additional 6,018 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Kodiak Sciences by 2.9% in the fourth quarter. Northern Trust Corp now owns 269,597 shares of the company's stock worth $2,682,000 after buying an additional 7,678 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Kodiak Sciences by 26.1% in the fourth quarter. Ameriprise Financial Inc. now owns 38,624 shares of the company's stock worth $384,000 after buying an additional 7,996 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of 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 worth $147,000 after buying an additional 9,560 shares in the last quarter. Institutional investors own 89.06% of the company's stock.

Kodiak Sciences Trading Up 23.0%

Shares of KOD stock traded up $1.97 during trading hours on Friday, hitting $10.52. 786,870 shares of the company's stock were exchanged, compared to its average volume of 634,630. The company has a market capitalization of $555.67 million, a PE ratio of -2.77 and a beta of 2.45. Kodiak Sciences Inc. has a 12-month low of $1.92 and a 12-month high of $11.60. The business's 50 day simple moving average is $7.29 and its 200-day simple moving average is $4.84.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.02). Equities analysts anticipate that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Analyst Upgrades and Downgrades

KOD has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. raised shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 target price on the stock in a research note on Thursday, August 14th. Finally, HC Wainwright raised their target price on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Kodiak Sciences currently has a consensus rating of "Hold" and a consensus target price of $11.75.

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.