Braidwell LP Cuts Stake in Kodiak Sciences Inc. $KOD

Braidwell LP decreased its position in Kodiak Sciences Inc. (NASDAQ:KOD) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,787,318 shares of the company’s stock after selling 31,347 shares during the quarter. Kodiak Sciences makes up 2.6% of Braidwell LP’s investment portfolio, making the stock its 9th largest position. Braidwell LP’s holdings in Kodiak Sciences were worth $69,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of KOD. GSA Capital Partners LLP bought a new stake in shares of Kodiak Sciences in the second quarter worth about $1,072,000. The Manufacturers Life Insurance Company raised its position in Kodiak Sciences by 31.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 120,629 shares of the company’s stock valued at $4,598,000 after purchasing an additional 29,121 shares during the last quarter. California State Teachers Retirement System raised its position in Kodiak Sciences by 1,358.9% during the 1st quarter. California State Teachers Retirement System now owns 29,396 shares of the company’s stock valued at $1,121,000 after purchasing an additional 27,381 shares during the last quarter. Algert Global LLC raised its position in Kodiak Sciences by 26.1% during the 2nd quarter. Algert Global LLC now owns 186,476 shares of the company’s stock valued at $7,265,000 after purchasing an additional 38,546 shares during the last quarter. Finally, Swiss National Bank purchased a new stake in Kodiak Sciences in the 1st quarter worth approximately $2,188,000. 89.06% of the stock is owned by institutional investors.

Kodiak Sciences Stock Up 1.2%

NASDAQ KOD opened at $37.50 on Thursday. The firm has a market capitalization of $2.36 billion, a PE ratio of -8.95 and a beta of 2.18. The stock’s 50 day moving average is $40.30 and its 200 day moving average is $36.41. Kodiak Sciences Inc. has a twelve month low of $8.29 and a twelve month high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). On average, research analysts anticipate that Kodiak Sciences Inc. will post -3.89 earnings per share for the current year.

Analysts Set New Price Targets

KOD has been the topic of a number of recent analyst reports. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. Wall Street Zen downgraded Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $58.00 price objective on shares of Kodiak Sciences in a research report on Monday, August 17th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.14.

Kodiak Sciences Company 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.