Jupiter Topco LLC Purchases Shares of 1,526,006 Kodiak Sciences Inc. $KOD

Jupiter Topco LLC purchased a new stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,526,006 shares of the company’s stock, valued at approximately $59,507,000. Jupiter Topco LLC owned 2.44% of Kodiak Sciences as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of KOD. AQR Capital Management LLC acquired a new stake in shares of Kodiak Sciences in the first quarter valued at $188,000. Dynamic Technology Lab Private Ltd acquired a new position in Kodiak Sciences during the first quarter worth about $94,000. Jane Street Group LLC raised its position in Kodiak Sciences by 441.3% in the first quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock worth $181,000 after acquiring an additional 52,705 shares in the last quarter. American Century Companies Inc. raised its position in Kodiak Sciences by 6.3% in the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock worth $297,000 after acquiring an additional 4,703 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Kodiak Sciences by 190.7% in the 2nd quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock valued at $911,000 after acquiring an additional 160,225 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Trading Down 0.5%

Shares of KOD opened at $39.12 on Friday. The business’s 50-day moving average price is $40.22 and its 200 day moving average price is $36.01. The stock has a market capitalization of $2.46 billion, a P/E ratio of -9.34 and a beta of 2.21. Kodiak Sciences Inc. has a 1-year low of $8.29 and a 1-year high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). On average, research analysts predict that Kodiak Sciences Inc. will post -3.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KOD shares. Wall Street Zen lowered shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. HC Wainwright restated a “buy” rating and set a $58.00 target price on shares of Kodiak Sciences in a report on Monday, August 17th. JPMorgan Chase & Co. raised their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Chardan Capital upgraded shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. Six investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.14.

Kodiak Sciences 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.