State of Wyoming Makes New Investment in Kodiak Sciences Inc. $KOD

State of Wyoming purchased a new position in Kodiak Sciences Inc. (NASDAQ:KOD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 23,244 shares of the company’s stock, valued at approximately $906,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baker BROS. Advisors LP increased its holdings in shares of Kodiak Sciences by 15.1% in the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock worth $556,940,000 after purchasing an additional 2,608,696 shares during the last quarter. Braidwell LP purchased a new stake in shares of Kodiak Sciences in the fourth quarter worth about $57,955,000. RTW Investments LP bought a new position in Kodiak Sciences during the fourth quarter valued at approximately $41,603,000. Janus Henderson Group PLC bought a new position in Kodiak Sciences during the fourth quarter valued at approximately $27,950,000. Finally, Goldman Sachs Group Inc. grew its holdings in 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 buying an additional 976,254 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on KOD shares. JPMorgan Chase & Co. lifted their price objective on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $61.00 in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. Finally, Wall Street Zen cut shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.14.

Kodiak Sciences Price Performance

Shares of NASDAQ KOD opened at $41.35 on Friday. The business’s 50 day moving average is $39.10 and its two-hundred day moving average is $34.95. Kodiak Sciences Inc. has a 1-year low of $8.29 and a 1-year high of $47.84. The stock has a market capitalization of $2.59 billion, a P/E ratio of -9.87 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). As a group, equities research analysts anticipate that Kodiak Sciences Inc. will post -3.74 earnings per share for the current fiscal year.

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.