Atom Investors LP Takes Position in Kodiak Sciences Inc. $KOD

Atom Investors LP purchased a new stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD) during the 4th quarter, HoldingsChannel reports. The fund purchased 207,495 shares of the company’s stock, valued at approximately $5,802,000.

Several other hedge funds also recently modified their holdings of KOD. Goldman Sachs Group Inc. increased its position in shares of Kodiak Sciences by 298.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock valued at $36,433,000 after purchasing an additional 976,254 shares during the period. State Street Corp increased its position in shares of Kodiak Sciences by 108.1% during the 4th quarter. State Street Corp now owns 1,732,015 shares of the company’s stock valued at $48,427,000 after purchasing an additional 899,572 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Kodiak Sciences during the 4th quarter valued at $23,389,000. Adage Capital Partners GP L.L.C. increased its position in shares of Kodiak Sciences by 55.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock valued at $7,668,000 after purchasing an additional 730,000 shares during the period. Finally, Boone Capital Management LLC acquired a new position in shares of Kodiak Sciences during the 3rd quarter valued at $11,719,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. UBS Group lifted their price target on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $61.00 in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.14.

Kodiak Sciences Stock Down 3.3%

KOD opened at $32.94 on Wednesday. The firm has a market cap of $2.06 billion, a PE ratio of -7.90 and a beta of 2.21. The business has a fifty day simple moving average of $39.01 and a 200-day simple moving average of $30.80. Kodiak Sciences Inc. has a fifty-two week low of $3.43 and a fifty-two week high of $47.84.

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

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.