Boone Capital Management LLC Has $14.09 Million Holdings in Kodiak Sciences Inc. $KOD

Boone Capital Management LLC trimmed its position in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 29.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 503,830 shares of the company’s stock after selling 212,047 shares during the period. Kodiak Sciences makes up approximately 4.7% of Boone Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Boone Capital Management LLC’s holdings in Kodiak Sciences were worth $14,087,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Boothbay Fund Management LLC grew its stake in Kodiak Sciences by 48.8% during the fourth quarter. Boothbay Fund Management LLC now owns 173,221 shares of the company’s stock worth $4,843,000 after buying an additional 56,786 shares in the last quarter. J. Goldman & Co LP acquired a new stake in Kodiak Sciences during the fourth quarter worth about $809,000. AQR Capital Management LLC grew its stake in Kodiak Sciences by 40.1% during the fourth quarter. AQR Capital Management LLC now owns 57,693 shares of the company’s stock worth $1,613,000 after buying an additional 16,520 shares in the last quarter. Braidwell LP acquired a new stake in Kodiak Sciences during the fourth quarter worth about $57,955,000. Finally, Jain Global LLC acquired a new stake in Kodiak Sciences during the fourth quarter worth about $7,966,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Trading Up 8.4%

KOD opened at $35.71 on Thursday. The company’s 50 day moving average is $38.95 and its 200-day moving average is $30.89. Kodiak Sciences Inc. has a 1-year low of $3.43 and a 1-year high of $47.84. The company has a market cap of $2.23 billion, a P/E ratio of -8.56 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). On average, equities analysts forecast that Kodiak Sciences Inc. will post -3.89 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KOD shares. Wall Street Zen upgraded shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group increased their price objective on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Chardan Capital upgraded shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $61.00 in a research note on Monday, May 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

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.