Point72 Asset Management L.P. Acquires New Holdings in Kodiak Sciences Inc. (NASDAQ:KOD)

Point72 Asset Management L.P. acquired a new stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 523,751 shares of the company's stock, valued at approximately $5,211,000. Point72 Asset Management L.P. owned approximately 1.00% of Kodiak Sciences as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Kodiak Sciences by 1,501.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company's stock valued at $32,000 after purchasing an additional 2,988 shares in the last quarter. US Bancorp DE purchased a new position in shares of Kodiak Sciences during the fourth quarter valued at about $40,000. Headlands Technologies LLC purchased a new position in shares of Kodiak Sciences during the fourth quarter valued at about $90,000. Fox Run Management L.L.C. purchased a new position in Kodiak Sciences in the fourth quarter worth about $118,000. Finally, Jump Financial LLC purchased a new position in Kodiak Sciences in the fourth quarter worth about $147,000. Hedge funds and other institutional investors own 89.06% of the company's stock.

Kodiak Sciences Stock Down 3.1%

KOD traded down $0.11 on Friday, hitting $3.44. The company had a trading volume of 220,235 shares, compared to its average volume of 350,031. The company has a market cap of $181.51 million, a PE ratio of -0.94 and a beta of 2.42. Kodiak Sciences Inc. has a 12-month low of $1.92 and a 12-month high of $11.60. The business's fifty day simple moving average is $3.30 and its 200 day simple moving average is $5.48.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.20). On average, analysts anticipate that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a "neutral" rating and issued a $3.00 price target on shares of Kodiak Sciences in a research report on Monday, March 31st.

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.