7,000 Shares of Kodiak Sciences Inc. $KOD Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Kodiak Sciences Inc. (NASDAQ:KOD) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,000 shares of the company’s stock, valued at approximately $664,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of America Corp DE acquired a new stake in Kodiak Sciences in the 2nd quarter valued at approximately $14,949,000. Bank of New York Mellon Corp bought a new stake in Kodiak Sciences in the 2nd quarter valued at approximately $4,361,000. Squarepoint Ops LLC lifted its stake in Kodiak Sciences by 112.6% in the 2nd quarter. Squarepoint Ops LLC now owns 151,098 shares of the company’s stock valued at $5,887,000 after acquiring an additional 80,042 shares in the last quarter. Algert Global LLC boosted its position in Kodiak Sciences by 26.1% during the 2nd quarter. Algert Global LLC now owns 186,476 shares of the company’s stock worth $7,265,000 after acquiring an additional 38,546 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Kodiak Sciences by 81.9% during the 2nd quarter. Wellington Management Group LLP now owns 793,613 shares of the company’s stock worth $30,919,000 after acquiring an additional 357,284 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KOD. Lifesci Capital raised their price target on shares of Kodiak Sciences from $85.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, September 28th. Wall Street Zen raised shares of Kodiak Sciences from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 4th. JPMorgan Chase & Co. increased 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. UBS Group raised their target price on shares of Kodiak Sciences from $80.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Finally, Weiss Ratings lowered shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 6th. Six equities 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.71.

Kodiak Sciences Price Performance

KOD stock traded up $8.28 during mid-day trading on Friday, reaching $99.30. The company had a trading volume of 1,048,160 shares, compared to its average volume of 1,153,712. The stock has a 50 day simple moving average of $69.56 and a two-hundred day simple moving average of $43.69. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of -23.70 and a beta of 2.02. Kodiak Sciences Inc. has a 52 week low of $15.83 and a 52 week high of $104.00.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). On average, equities analysts predict that Kodiak Sciences Inc. will post -3.97 EPS for the current year.

Insider Buying and Selling at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker bought 807,840 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were acquired at an average cost of $72.57 per share, for a total transaction of $58,624,948.80. Following the completion of the acquisition, the director owned 19,121,134 shares in the company, valued at approximately $1,387,620,694.38. This represents a 4.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 2,188,845 shares of company stock valued at $181,326,862 over the last three months. 44.40% of the stock is currently owned by company insiders.

Kodiak Sciences Profile

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing treatments for retinal diseases. The company’s research centers on therapies designed to address conditions that can cause vision loss, including diabetic macular edema, neovascular age-related macular degeneration and retinal vein occlusion.

Kodiak’s proprietary Antibody Biopolymer Conjugate platform is designed to combine the targeting capabilities of antibody-based medicines with a biodegradable polymer intended to extend the duration of treatment in the eye.