Bruce & Co. Inc. Trims Stock Position in Kodiak Sciences Inc. $KOD

Bruce & Co. Inc. decreased its stake in Kodiak Sciences Inc. (NASDAQ:KOD) by 12.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,000 shares of the company’s stock after selling 20,000 shares during the period. Kodiak Sciences accounts for 1.6% of Bruce & Co. Inc.’s investment portfolio, making the stock its 21st largest holding. Bruce & Co. Inc. owned about 0.23% of Kodiak Sciences worth $5,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Baker BROS. Advisors LP raised its stake in Kodiak Sciences by 15.1% during the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock worth $556,940,000 after acquiring an additional 2,608,696 shares in the last quarter. Braidwell LP acquired a new position in Kodiak Sciences in the fourth quarter valued at $57,955,000. RTW Investments LP acquired a new position in Kodiak Sciences in the fourth quarter valued at $41,603,000. Janus Henderson Group PLC purchased a new position in shares of Kodiak Sciences during the fourth quarter worth about $27,950,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Kodiak Sciences by 298.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock worth $36,433,000 after purchasing an additional 976,254 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $58.00 target price (up from $38.00) on shares of Kodiak Sciences in a report on Friday, March 27th. UBS Group raised their price target on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Wall Street Zen raised Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $61.00 in a research note on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. Six investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

Kodiak Sciences Stock Performance

Shares of NASDAQ:KOD opened at $41.02 on Friday. The company has a 50-day simple moving average of $36.91 and a 200-day simple moving average of $33.29. Kodiak Sciences Inc. has a one year low of $6.21 and a one year high of $47.84. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -9.84 and a beta of 2.19.

Kodiak Sciences (NASDAQ:KOD) last released 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). As a group, research analysts forecast that Kodiak Sciences Inc. will post -3.78 EPS for the current fiscal year.

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.