Key Points
- Director Bros. Advisors Lp Baker bought 2,608,696 shares of Kodiak Sciences at an average price of $23, spending $60,000,008 and increasing their stake to 18,358,772 shares (a 16.56% increase), according to an SEC filing.
- Kodiak is trading around $26 with a $1.38B market cap, but recently missed earnings (Q EPS of -$1.16 vs. -$1.07 est.) and carries mixed analyst views — a consensus rating of Hold with a $22.67 target and split Buy/Hold/Sell recommendations.
Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the firm's stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the acquisition, the director directly owned 18,358,772 shares of the company's stock, valued at $422,251,756. This represents a 16.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Kodiak Sciences Trading Down 1.4%
Shares of NASDAQ:KOD opened at $26.00 on Friday. The stock has a market cap of $1.38 billion, a PE ratio of -6.31 and a beta of 2.68. The stock's fifty day simple moving average is $20.38 and its two-hundred day simple moving average is $12.31. Kodiak Sciences Inc. has a 1-year low of $1.92 and a 1-year high of $28.79.
Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its earnings results on Thursday, November 13th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.09). On average, sell-side analysts forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on KOD. Jefferies Financial Group assumed coverage on Kodiak Sciences in a report on Monday, September 22nd. They issued a "buy" rating and a $15.00 target price for the company. HC Wainwright boosted their price objective on Kodiak Sciences from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, November 17th. Barclays raised Kodiak Sciences from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $7.00 to $17.00 in a research report on Thursday, September 25th. Lifesci Capital started coverage on Kodiak Sciences in a research note on Thursday, October 23rd. They set an "outperform" rating and a $40.00 target price on the stock. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Kodiak Sciences in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $22.67.
Get Our Latest Stock Report on KOD
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Vestal Point Capital LP purchased a new stake in Kodiak Sciences in the 3rd quarter worth about $4,092,000. Millennium Management LLC boosted its position in Kodiak Sciences by 210.5% during the third quarter. Millennium Management LLC now owns 155,255 shares of the company's stock worth $2,542,000 after purchasing an additional 105,255 shares during the period. Fred Alger Management LLC purchased a new position in shares of Kodiak Sciences in the third quarter worth about $2,264,000. Bank of America Corp DE raised its position in shares of Kodiak Sciences by 657.7% in the third quarter. Bank of America Corp DE now owns 309,071 shares of the company's stock valued at $5,059,000 after purchasing an additional 268,281 shares during the period. Finally, Boone Capital Management LLC purchased a new stake in shares of Kodiak Sciences during the 3rd quarter valued at approximately $11,719,000. Institutional investors own 89.06% of the company's stock.
About Kodiak Sciences
(
Get Free Report)
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.
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