Squarepoint Ops LLC Raises Stake in Kodiak Sciences Inc. $KOD

Squarepoint Ops LLC grew its stake in Kodiak Sciences Inc. (NASDAQ:KOD) by 112.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 151,098 shares of the company’s stock after acquiring an additional 80,042 shares during the quarter. Squarepoint Ops LLC’s holdings in Kodiak Sciences were worth $5,887,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Kodiak Sciences during the 2nd quarter valued at approximately $161,113,000. Baker BROS. Advisors LP grew its position in 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 acquiring an additional 2,608,696 shares during the period. Braidwell LP acquired a new stake in Kodiak Sciences during the fourth quarter worth $57,955,000. Jupiter Topco LLC acquired a new stake in Kodiak Sciences during the second quarter worth $59,507,000. Finally, RTW Investments LP purchased a new stake in Kodiak Sciences in the fourth quarter valued at $41,603,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen lowered Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $58.00 target price on shares of Kodiak Sciences in a research note on Monday, August 17th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Kodiak Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.14.

Kodiak Sciences Stock Up 0.1%

Shares of NASDAQ KOD opened at $32.89 on Friday. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -7.85 and a beta of 2.18. Kodiak Sciences Inc. has a 52-week low of $8.91 and a 52-week high of $47.84. The business’s 50 day moving average is $39.91 and its two-hundred day moving average is $36.84.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Analysts anticipate that Kodiak Sciences Inc. will post -3.89 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.