Y Intercept Hong Kong Ltd Sells 27,959 Shares of Kodiak Sciences Inc. $KOD

Key Points

• Y Intercept Hong Kong Ltd cut its Kodiak Sciences stake by 73.6% in the first quarter, selling 27,959 shares and ending with 10,006 shares valued at about $381,000.
• Institutional ownership remains very high, with 89.06% of Kodiak Sciences stock held by institutional investors; several funds, including Baker BROS. Advisors, Goldman Sachs, and others, made notable moves in recent quarters.
• Analysts are generally bullish on KOD, with six Buy ratings, one Hold, and one Sell, while the consensus price target is $42.14 versus the stock’s recent price of $43.26.

Y Intercept Hong Kong Ltd reduced its position in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 73.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,006 shares of the company's stock after selling 27,959 shares during the period. Y Intercept Hong Kong Ltd's holdings in Kodiak Sciences were worth $381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Baker BROS. Advisors LP boosted its stake in Kodiak Sciences by 15.1% during the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company's stock valued at $556,940,000 after purchasing an additional 2,608,696 shares during the last quarter. Braidwell LP purchased a new position in shares of Kodiak Sciences in the fourth quarter worth $57,955,000. RTW Investments LP purchased a new position in shares of Kodiak Sciences in the fourth quarter worth $41,603,000. Janus Henderson Group PLC purchased a new position in shares of Kodiak Sciences in the fourth quarter worth $27,950,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Kodiak Sciences by 298.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company's stock valued at $36,433,000 after purchasing an additional 976,254 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on KOD. UBS Group increased their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, March 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Kodiak Sciences in a research report on Friday. HC Wainwright restated a "buy" rating and set a $58.00 target price (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Kodiak Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Chardan Capital raised shares of Kodiak Sciences from a "neutral" rating to a "buy" rating and raised their price target for the company from $14.00 to $61.00 in a report on Monday, May 11th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Kodiak Sciences has an average rating of "Moderate Buy" and a consensus price target of $42.14.

Kodiak Sciences Price Performance

KOD stock opened at $43.26 on Wednesday. The company has a market cap of $2.71 billion, a P/E ratio of -10.37 and a beta of 2.19. Kodiak Sciences Inc. has a 1 year low of $4.39 and a 1 year high of $47.84. The stock's fifty day moving average price is $36.83 and its 200-day moving average price is $32.63.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.93) by ($0.01). As a group, analysts expect that Kodiak Sciences Inc. will post -3.89 earnings per share for the current year.

Kodiak Sciences Company Profile

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company's proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak's research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak's pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.

Want to see what other hedge funds are holding KOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kodiak Sciences Inc. (NASDAQ:KOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.