Nuveen LLC Invests $392,000 in Kodiak Sciences Inc. $KOD

Key Points

• Nuveen LLC has acquired a new stake in Kodiak Sciences, purchasing 139,688 shares valued at approximately $392,000.
• Several analysts have upgraded their ratings for Kodiak Sciences, with JPMorgan raising it to a "neutral" rating and setting a price target of $15.00.
• Kodiak Sciences reported a loss of ($1.03) EPS for the most recent quarter, missing expectations, while analysts forecast a yearly EPS of -3.45.

Nuveen LLC acquired a new stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 139,688 shares of the company's stock, valued at approximately $392,000. Nuveen LLC owned 0.26% of Kodiak Sciences as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. US Bancorp DE raised 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 valued at $26,000 after buying an additional 5,276 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in Kodiak Sciences during the 1st quarter valued at $28,000. Aries Wealth Management bought a new stake in Kodiak Sciences during the 1st quarter valued at $70,000. XTX Topco Ltd bought a new stake in Kodiak Sciences during the 1st quarter valued at $126,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Kodiak Sciences by 183.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,759 shares of the company's stock valued at $147,000 after buying an additional 9,560 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on KOD shares. Barclays upped their price target on shares of Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target for the company in a report on Thursday, August 14th. Finally, HC Wainwright upped their price target on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.75.

Kodiak Sciences Stock Performance

Shares of NASDAQ KOD traded up $1.97 during mid-day trading on Friday, hitting $10.52. 786,870 shares of the stock traded hands, compared to its average volume of 634,630. The company has a market cap of $555.69 million, a price-to-earnings ratio of -2.77 and a beta of 2.45. The stock has a fifty day moving average price of $7.29 and a 200-day moving average price of $4.83. Kodiak Sciences Inc. has a 52 week low of $1.92 and a 52 week high of $11.60.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.02). As a group, sell-side analysts predict 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.