Kodiak Sciences Inc. $KOD Shares Sold by State of Wyoming

Key Points

• State of Wyoming cut its Kodiak Sciences stake by 43.9% in the third quarter, selling 10,198 shares and retaining 13,046 shares valued at approximately $1.24 million.
• Institutional investors own 89.06% of Kodiak Sciences, while insiders own 44.4%; insiders purchased nearly 1.94 million shares worth about $157 million over the past 90 days.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $104.71, although the company recently missed quarterly earnings expectations and analysts project a full-year loss.

State of Wyoming trimmed its stake in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 43.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,046 shares of the company's stock after selling 10,198 shares during the quarter. State of Wyoming's holdings in Kodiak Sciences were worth $1,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Kodiak Sciences in the 2nd quarter valued at about $161,113,000. Jupiter Topco LLC acquired a new position in shares of Kodiak Sciences during the second quarter worth approximately $59,507,000. Janus Henderson Group PLC raised its position in shares of Kodiak Sciences by 32.5% during the first quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company's stock worth $50,540,000 after purchasing an additional 325,457 shares during the period. ICONIQ Capital LLC bought a new position in shares of Kodiak Sciences in the 2nd quarter worth $49,345,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Kodiak Sciences by 81.9% in the 2nd quarter. Wellington Management Group LLP now owns 793,613 shares of the company's stock worth $30,919,000 after purchasing an additional 357,284 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Kodiak Sciences in a research report on Wednesday, September 30th. They issued a "neutral" rating and a $103.00 price target for the company. Lifesci Capital upped their price objective on shares of Kodiak Sciences from $85.00 to $145.00 and gave the stock an "outperform" rating in a report on Monday, September 28th. JPMorgan Chase & Co. raised their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of Kodiak Sciences from a "strong sell" rating to a "sell" rating in a research note on Sunday, October 4th. Finally, Weiss Ratings cut shares of Kodiak Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, October 6th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $104.71.

Kodiak Sciences Stock Down 1.2%

Shares of Kodiak Sciences stock opened at $99.18 on Friday. Kodiak Sciences Inc. has a 52 week low of $15.83 and a 52 week high of $104.00. The business has a 50 day moving average price of $63.72 and a 200-day moving average price of $41.95. The company has a market cap of $6.23 billion, a PE ratio of -23.67 and a beta of 2.03.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its earnings results on Thursday, August 13th. 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, research analysts anticipate that Kodiak Sciences Inc. will post -3.97 EPS for the current year.

Insider Buying and Selling

In related news, Director Bros. Advisors Lp Baker acquired 33,726 shares of the company's stock in a transaction on Tuesday, September 29th. The shares were acquired at an average cost of $85.05 per share, for a total transaction of $2,868,396.30. Following the purchase, the director owned 20,191,214 shares in the company, valued at approximately $1,717,262,750.70. The trade was a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders acquired 1,941,755 shares of company stock valued at $156,986,026. Corporate insiders own 44.40% of the company's stock.

Kodiak Sciences Company Profile

Kodiak Sciences Inc NASDAQ: KOD is a clinical-stage biopharmaceutical company focused on developing treatments for retinal diseases. The company's research centers on therapies designed to address conditions that can cause vision loss, including diabetic macular edema, neovascular age-related macular degeneration and retinal vein occlusion.

Kodiak's proprietary Antibody Biopolymer Conjugate platform is designed to combine the targeting capabilities of antibody-based medicines with a biodegradable polymer intended to extend the duration of treatment in the eye.

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