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

Kodiak Sciences Inc. (NASDAQ:KOD) Director Bros. Advisors Lp Baker acquired 2,608,696 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was bought at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the acquisition, the director directly owned 18,358,772 shares of the company’s stock, valued at $422,251,756. This trade represents a 16.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kodiak Sciences Trading Down 1.4%

NASDAQ KOD opened at $26.00 on Friday. The firm has a market capitalization of $1.38 billion, a PE ratio of -6.31 and a beta of 2.68. The business’s 50-day moving average price is $20.38 and its two-hundred day moving average price is $12.31. Kodiak Sciences Inc. has a 12 month low of $1.92 and a 12 month high of $28.79.

Kodiak Sciences (NASDAQ:KOD) last announced its earnings results on Thursday, November 13th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.09). As a group, analysts forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its holdings in shares of Kodiak Sciences by 131.7% in the 1st quarter. US Bancorp DE now owns 9,282 shares of the company’s stock worth $26,000 after purchasing an additional 5,276 shares in the last quarter. Deutsche Bank AG raised its holdings in Kodiak Sciences by 8.9% during the first quarter. Deutsche Bank AG now owns 73,564 shares of the company’s stock worth $207,000 after buying an additional 6,018 shares during the last quarter. Nuveen LLC bought a new position in shares of Kodiak Sciences in the first quarter valued at $392,000. Russell Investments Group Ltd. increased its position in shares of Kodiak Sciences by 729.9% during the first quarter. Russell Investments Group Ltd. now owns 21,039 shares of the company’s stock worth $59,000 after acquiring an additional 18,504 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Kodiak Sciences by 25.1% in the 1st quarter. American Century Companies Inc. now owns 75,042 shares of the company’s stock worth $210,000 after acquiring an additional 15,075 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KOD shares. Lifesci Capital began coverage on shares of Kodiak Sciences in a report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 target price on the stock. HC Wainwright lifted their price objective on Kodiak Sciences from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $7.00 to $17.00 in a research report on Thursday, September 25th. Wall Street Zen lowered Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Chardan Capital reiterated a “neutral” rating and issued a $14.00 price objective on shares of Kodiak Sciences in a research note on Monday, November 17th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.67.

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.