Bros. Advisors Lp Baker Buys 2,608,696 Shares of Kodiak Sciences (NASDAQ:KOD) Stock

Kodiak Sciences Inc. (NASDAQ:KOD) Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were bought at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the purchase, the director directly owned 18,358,772 shares in the company, valued at approximately $422,251,756. The trade was a 16.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Kodiak Sciences Stock Down 1.4%

NASDAQ:KOD traded down $0.38 during trading hours on Friday, hitting $26.00. 3,023,075 shares of the company traded hands, compared to its average volume of 598,251. The company has a market cap of $1.38 billion, a PE ratio of -6.31 and a beta of 2.68. The firm’s 50-day simple moving average is $20.10 and its 200-day simple moving average is $12.16. Kodiak Sciences Inc. has a one year low of $1.92 and a one year high of $28.79.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.09). As a group, equities research analysts expect that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Kodiak Sciences from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $15.00 to $24.00 in a research report on Friday, October 24th. Barclays raised shares of Kodiak Sciences from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $7.00 to $17.00 in a report on Thursday, September 25th. Chardan Capital reissued a “neutral” rating and set a $14.00 price objective on shares of Kodiak Sciences in a report on Monday, November 17th. HC Wainwright raised their target price on Kodiak Sciences from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Finally, Lifesci Capital initiated coverage on Kodiak Sciences in a research report on Thursday, October 23rd. They set an “outperform” rating and a $40.00 price target on the stock. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.67.

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE raised its stake in shares of Kodiak Sciences by 131.7% during the first quarter. US Bancorp DE now owns 9,282 shares of the company’s stock worth $26,000 after acquiring an additional 5,276 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after purchasing an additional 5,815 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Kodiak Sciences during the 1st quarter valued at $49,000. Vanguard Personalized Indexing Management LLC raised its position in Kodiak Sciences by 21.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock worth $56,000 after purchasing an additional 2,691 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Kodiak Sciences by 729.9% in the first quarter. Russell Investments Group Ltd. now owns 21,039 shares of the company’s stock worth $59,000 after purchasing an additional 18,504 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

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.