Kodiak Sciences (NASDAQ:KOD) Reaches New 12-Month High on Insider Buying Activity

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price hit a new 52-week high during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as $106.72 and last traded at $106.1020, with a volume of 294,317 shares traded. The stock had previously closed at $99.30.

Specifically, Director Bros. Advisors Lp Baker acquired 86,432 shares of the stock in a transaction on Thursday, November 5th. The stock was bought at an average price of $98.51 per share, with a total value of $8,514,416.32. Following the completion of the transaction, the director directly owned 20,424,859 shares of the company’s stock, valued at $2,012,052,860.09. The trade was a 0.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bros. Advisors Lp Baker purchased 160,658 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were purchased at an average cost of $98.51 per share, for a total transaction of $15,826,419.58. Following the purchase, the director directly owned 20,343,130 shares in the company, valued at $2,004,001,736.30. This trade represents a 0.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KOD. Jefferies Financial Group reiterated a “buy” rating and set a $112.00 target price on shares of Kodiak Sciences in a research note on Monday, September 28th. Weiss Ratings downgraded shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Lifesci Capital lifted 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. The Goldman Sachs Group assumed coverage on shares of Kodiak Sciences in a report on Wednesday, September 30th. They issued a “neutral” rating and a $103.00 price target on the stock. Finally, HC Wainwright upped their price target on shares of Kodiak Sciences from $96.00 to $126.00 and gave the company a “buy” rating in a report on Monday, October 12th. 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.71.

Kodiak Sciences Trading Up 7.3%

The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of -25.51 and a beta of 2.02. The company has a 50-day moving average of $69.56 and a 200-day moving average of $43.69.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Arizona State Retirement System boosted its holdings in shares of Kodiak Sciences by 6.9% in the 2nd quarter. Arizona State Retirement System now owns 8,533 shares of the company’s stock valued at $332,000 after buying an additional 554 shares during the period. EverSource Wealth Advisors LLC raised its stake in Kodiak Sciences by 94.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,927 shares of the company’s stock worth $73,000 after acquiring an additional 936 shares during the period. KBC Group NV acquired a new stake in Kodiak Sciences during the first quarter worth about $39,000. Sterling Capital Management LLC raised its stake in Kodiak Sciences by 850.0% during the third quarter. Sterling Capital Management LLC now owns 1,311 shares of the company’s stock worth $124,000 after acquiring an additional 1,173 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in Kodiak Sciences by 15.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,468 shares of the company’s stock worth $1,045,000 after acquiring an additional 1,509 shares during the period. 89.06% of the stock is currently owned by institutional investors.

About Kodiak Sciences

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.