Y Intercept Hong Kong Ltd Sells 27,959 Shares of Kodiak Sciences Inc. $KOD

Y Intercept Hong Kong Ltd trimmed its stake in Kodiak Sciences Inc. (NASDAQ:KOD) by 73.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,006 shares of the company’s stock after selling 27,959 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Kodiak Sciences were worth $381,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KOD. Baker BROS. Advisors LP lifted its position in Kodiak Sciences by 15.1% during the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock valued at $556,940,000 after purchasing an additional 2,608,696 shares in the last quarter. Braidwell LP bought a new stake in Kodiak Sciences during the fourth quarter valued at about $57,955,000. RTW Investments LP purchased a new stake in Kodiak Sciences in the fourth quarter worth about $41,603,000. Janus Henderson Group PLC purchased a new stake in Kodiak Sciences in the fourth quarter worth about $27,950,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Kodiak Sciences by 298.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock worth $36,433,000 after buying an additional 976,254 shares during the period. 89.06% of the stock is owned by institutional investors.

Kodiak Sciences Trading Up 5.3%

Shares of Kodiak Sciences stock opened at $43.26 on Wednesday. The firm has a market cap of $2.71 billion, a PE ratio of -10.37 and a beta of 2.19. The stock has a 50 day moving average of $36.83 and a 200 day moving average of $32.63. Kodiak Sciences Inc. has a 12 month low of $4.39 and a 12 month high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last announced 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). As a group, equities research analysts forecast that Kodiak Sciences Inc. will post -3.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KOD. UBS Group lifted 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 reissued a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday. Chardan Capital upgraded shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $61.00 in a research note on Monday, May 11th. Wall Street Zen raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Six 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 MarketBeat, Kodiak Sciences has a consensus rating of “Moderate Buy” and an average target price of $42.14.

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.