Vanguard Group Inc. Buys 363,103 Shares of Kodiak Sciences Inc. $KOD

Vanguard Group Inc. boosted its stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 18.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,313,395 shares of the company’s stock after purchasing an additional 363,103 shares during the quarter. Vanguard Group Inc.’s holdings in Kodiak Sciences were worth $64,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in KOD. AQR Capital Management LLC bought a new stake in Kodiak Sciences during the first quarter valued at about $188,000. Dynamic Technology Lab Private Ltd bought a new stake in Kodiak Sciences during the first quarter valued at about $94,000. Jane Street Group LLC boosted its position in Kodiak Sciences by 441.3% during the first quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock valued at $181,000 after purchasing an additional 52,705 shares in the last quarter. American Century Companies Inc. boosted its position in Kodiak Sciences by 6.3% during the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after purchasing an additional 4,703 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Kodiak Sciences by 190.7% during the second quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock valued at $911,000 after purchasing an additional 160,225 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Performance

Shares of NASDAQ KOD opened at $38.70 on Friday. The company has a market cap of $2.42 billion, a PE ratio of -9.28 and a beta of 2.32. The business has a 50-day simple moving average of $36.21 and a two-hundred day simple moving average of $28.37. Kodiak Sciences Inc. has a fifty-two week low of $2.81 and a fifty-two week high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.01). On average, sell-side analysts predict that Kodiak Sciences Inc. will post -3.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KOD. HC Wainwright reaffirmed a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. UBS Group raised their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. Finally, Chardan Capital raised Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $61.00 in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock 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.