Renaissance Technologies LLC Lowers Stock Holdings in Kodiak Sciences Inc. $KOD

Renaissance Technologies LLC reduced its stake in Kodiak Sciences Inc. (NASDAQ:KOD) by 18.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,300 shares of the company’s stock after selling 65,500 shares during the period. Renaissance Technologies LLC owned 0.47% of Kodiak Sciences worth $11,219,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Westfuller Advisors LLC bought a new stake in shares of Kodiak Sciences during the first quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new position in Kodiak Sciences in the first quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after purchasing an additional 916 shares during the period. KBC Group NV purchased a new position in Kodiak Sciences during the 1st quarter worth $39,000. Finally, GF Fund Management CO. LTD. purchased a new position in Kodiak Sciences during the 4th quarter worth $29,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

Kodiak Sciences Stock Down 2.2%

Kodiak Sciences stock opened at $41.58 on Friday. The firm has a market cap of $2.60 billion, a P/E ratio of -9.97 and a beta of 2.19. The business has a fifty day moving average of $37.54 and a two-hundred day moving average of $33.87. Kodiak Sciences Inc. has a twelve month low of $6.21 and a twelve month high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). Equities analysts expect that Kodiak Sciences Inc. will post -3.78 earnings per share for the current year.

Analyst Ratings Changes

KOD has been the subject of several research reports. Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Finally, Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $61.00 in a research note on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Kodiak Sciences currently has an average rating of “Moderate Buy” and a consensus price target 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.