Kodiak Sciences Inc. $KOD Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. decreased its holdings in Kodiak Sciences by 8.3% during the 1st quarter, resulting in ownership of 249,716 shares valued at approximately $700,000.
• A variety of hedge funds adjusted their stakes in Kodiak Sciences, with Nantahala Capital Management LLC increasing its holdings by 99.1% during the same period.
• Research analysts have mixed views on Kodiak Sciences, with Jefferies setting a "buy" rating and a $15.00 target price, while others have issued neutral or underweight ratings, leading to an average price target of $10.50.

Goldman Sachs Group Inc. decreased its holdings in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 8.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,716 shares of the company's stock after selling 22,537 shares during the quarter. Goldman Sachs Group Inc. owned about 0.47% of Kodiak Sciences worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its position in Kodiak Sciences by 27.0% in the first quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company's stock valued at $5,454,000 after purchasing an additional 413,821 shares during the period. Adage Capital Partners GP L.L.C. grew its stake 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 valued at $3,719,000 after buying an additional 186,180 shares in the last quarter. ICONIQ Capital LLC boosted its holdings in Kodiak Sciences by 24.6% in the 1st quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company's stock worth $3,559,000 after acquiring an additional 249,699 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Kodiak Sciences by 90.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company's stock worth $1,922,000 after acquiring an additional 324,722 shares during the period. Finally, Nantahala Capital Management LLC boosted its holdings in Kodiak Sciences by 99.1% in the 1st quarter. Nantahala Capital Management LLC now owns 530,713 shares of the company's stock worth $1,489,000 after acquiring an additional 264,100 shares during the period. 89.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Kodiak Sciences in a research report on Monday. They set a "buy" rating and a $15.00 target price on the stock. JPMorgan Chase & Co. raised shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target on the stock in a research note on Thursday, August 14th. HC Wainwright raised their target price on Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, Barclays raised their target price on Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $10.50.

Kodiak Sciences Trading Up 12.9%

Shares of NASDAQ:KOD opened at $15.49 on Thursday. The firm has a market cap of $818.18 million, a PE ratio of -4.08 and a beta of 2.45. Kodiak Sciences Inc. has a 12-month low of $1.92 and a 12-month high of $16.30. The company has a fifty day simple moving average of $8.99 and a 200 day simple moving average of $5.43.

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

Kodiak Sciences Company 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.

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