The Manufacturers Life Insurance Company Raises Stake in Kodiak Sciences Inc. $KOD

The Manufacturers Life Insurance Company boosted its stake in Kodiak Sciences Inc. (NASDAQ:KOD) by 31.8% in the 1st quarter, Holdings Channel reports. The firm owned 120,629 shares of the company’s stock after acquiring an additional 29,121 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Kodiak Sciences were worth $4,598,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KOD. V Square Quantitative Management LLC purchased a new stake in shares of Kodiak Sciences in the first quarter worth about $26,000. Westfuller Advisors LLC bought a new stake in Kodiak Sciences during the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in Kodiak Sciences by 1,221.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after purchasing an additional 916 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Kodiak Sciences in the 4th quarter worth approximately $29,000. Finally, Headlands Technologies LLC boosted its holdings in Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after purchasing an additional 5,815 shares during the period. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Wall Street Analysts Forecast Growth

KOD has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their price target 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 raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.14.

Kodiak Sciences Stock Performance

Shares of KOD stock opened at $45.40 on Friday. The company has a market capitalization of $2.84 billion, a P/E ratio of -10.89 and a beta of 2.21. Kodiak Sciences Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $47.84. The stock has a 50 day moving average price of $38.11 and a two-hundred day moving average price of $34.34.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.01). As a group, equities analysts predict that Kodiak Sciences Inc. will post -3.74 earnings per share for the current year.

Kodiak Sciences 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.