Emerald Investment Advisers LLC Takes Position in Kodiak Sciences Inc. $KOD

Emerald Investment Advisers LLC acquired a new stake in Kodiak Sciences Inc. (NASDAQ:KOD) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 55,631 shares of the company’s stock, valued at approximately $2,167,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Westfuller Advisors LLC purchased a new position in Kodiak Sciences during the 1st quarter valued at about $26,000. V Square Quantitative Management LLC purchased a new position in Kodiak Sciences during the 1st quarter worth $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Kodiak Sciences by 1,221.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after acquiring an additional 916 shares in the last quarter. KBC Group NV purchased a new position in shares of Kodiak Sciences in the first quarter worth $39,000. Finally, Cerity Partners LLC lifted its position in Kodiak Sciences by 7.4% during the 4th quarter. Cerity Partners LLC now owns 16,446 shares of the company’s stock worth $460,000 after acquiring an additional 1,139 shares during the period. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Down 3.8%

Shares of NASDAQ KOD opened at $38.33 on Friday. The business’s 50 day moving average is $39.90 and its two-hundred day moving average is $35.47. Kodiak Sciences Inc. has a 52-week low of $8.29 and a 52-week high of $47.84. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -9.15 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last announced its earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). Analysts anticipate that Kodiak Sciences Inc. will post -3.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KOD. Chardan Capital raised 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 report on Monday, May 11th. HC Wainwright reissued a “buy” rating and issued a $58.00 price target on shares of Kodiak Sciences in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. JPMorgan Chase & Co. raised their price target on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Six 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 data from MarketBeat, Kodiak Sciences has a consensus rating of “Moderate Buy” and an average target price of $48.14.

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.