Point72 Asset Management L.P. Buys New Shares in Kodiak Sciences Inc. (NASDAQ:KOD)

Point72 Asset Management L.P. acquired a new stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 523,751 shares of the company’s stock, valued at approximately $5,211,000. Point72 Asset Management L.P. owned 1.00% of Kodiak Sciences at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of Kodiak Sciences by 1,501.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company’s stock worth $32,000 after purchasing an additional 2,988 shares in the last quarter. US Bancorp DE bought a new position in shares of Kodiak Sciences during the 4th quarter worth about $40,000. Headlands Technologies LLC bought a new position in shares of Kodiak Sciences during the 4th quarter worth about $90,000. Fox Run Management L.L.C. bought a new position in shares of Kodiak Sciences during the 4th quarter worth about $118,000. Finally, Jump Financial LLC bought a new position in shares of Kodiak Sciences during the 4th quarter worth about $147,000. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Price Performance

KOD opened at $3.71 on Tuesday. Kodiak Sciences Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $11.60. The firm has a market capitalization of $195.75 million, a PE ratio of -1.02 and a beta of 2.42. The company’s 50-day moving average is $3.28 and its 200 day moving average is $5.50.

Kodiak Sciences (NASDAQ:KOD) last posted its earnings results on Wednesday, May 14th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.20). As a group, analysts expect that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “neutral” rating and set a $3.00 price objective on shares of Kodiak Sciences in a research report on Monday, March 31st.

Kodiak Sciences Company Profile

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.