The Manufacturers Life Insurance Company Makes New Investment in Kodiak Sciences Inc. (NASDAQ:KOD)

The Manufacturers Life Insurance Company purchased a new stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 90,691 shares of the company's stock, valued at approximately $902,000. The Manufacturers Life Insurance Company owned about 0.17% of Kodiak Sciences as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings 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 worth $32,000 after buying an additional 2,988 shares during the last quarter. American Century Companies Inc. increased its position in Kodiak Sciences by 6.2% during the fourth quarter. American Century Companies Inc. now owns 59,967 shares of the company's stock worth $597,000 after acquiring an additional 3,515 shares during the period. US Bancorp DE bought a new stake in shares of Kodiak Sciences during the fourth quarter valued at approximately $40,000. Bank of New York Mellon Corp raised its stake in shares of Kodiak Sciences by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 98,102 shares of the company's stock valued at $976,000 after purchasing an additional 4,927 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Kodiak Sciences by 61.4% in the fourth quarter. SG Americas Securities LLC now owns 20,684 shares of the company's stock worth $206,000 after purchasing an additional 7,871 shares during the period. Institutional investors own 89.06% of the company's stock.

Kodiak Sciences Stock Performance

NASDAQ KOD traded up $0.14 during trading hours on Tuesday, reaching $3.85. 45,888 shares of the company's stock were exchanged, compared to its average volume of 348,910. The company's 50-day moving average is $3.28 and its two-hundred day moving average is $5.50. Kodiak Sciences Inc. has a one year low of $1.92 and a one year high of $11.60. The company has a market capitalization of $203.14 million, a price-to-earnings ratio of -1.05 and a beta of 2.42.

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

Analysts Set New Price Targets

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

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.