PSP Research LLC Takes $543,000 Position in Kodiak Sciences Inc. $KOD

PSP Research LLC purchased a new stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,418 shares of the company’s stock, valued at approximately $543,000. Kodiak Sciences accounts for about 0.5% of PSP Research LLC’s portfolio, making the stock its 18th biggest holding.

Several other large investors have also made changes to their positions in KOD. GF Fund Management CO. LTD. acquired a new position in shares of Kodiak Sciences during the fourth quarter valued at $29,000. Headlands Technologies LLC lifted its stake in shares of Kodiak Sciences by 256.4% during the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after acquiring an additional 5,815 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Kodiak Sciences during the fourth quarter valued at $72,000. Strs Ohio acquired a new position in shares of Kodiak Sciences during the fourth quarter valued at $87,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Kodiak Sciences during the first quarter valued at $94,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Price Performance

Shares of Kodiak Sciences stock opened at $34.42 on Wednesday. Kodiak Sciences Inc. has a 1 year low of $3.26 and a 1 year high of $47.84. The business has a 50-day moving average of $36.80 and a two-hundred day moving average of $28.72. The company has a market capitalization of $2.15 billion, a P/E ratio of -8.25 and a beta of 2.32.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.01). On average, equities analysts anticipate that Kodiak Sciences Inc. will post -3.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KOD shares. Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a report on Saturday. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $61.00 in a report on Monday, May 11th. UBS Group upped their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a report on Friday, March 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a report on Friday, March 27th. Six equities research 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. According to MarketBeat.com, Kodiak Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $42.14.

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.