Squarepoint Ops LLC Boosts Position in Kodiak Sciences Inc. $KOD

Squarepoint Ops LLC raised its holdings in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 112.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,098 shares of the company’s stock after acquiring an additional 80,042 shares during the period. Squarepoint Ops LLC owned approximately 0.24% of Kodiak Sciences worth $5,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of Kodiak Sciences during the first quarter worth $188,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Kodiak Sciences in the 1st quarter valued at about $94,000. Jane Street Group LLC grew its holdings in Kodiak Sciences by 441.3% during the first quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock worth $181,000 after acquiring an additional 52,705 shares during the period. American Century Companies Inc. grew its holdings in Kodiak Sciences by 6.3% during the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock worth $297,000 after acquiring an additional 4,703 shares during the period. Finally, Federated Hermes Inc. boosted its position in Kodiak Sciences by 190.7% in the 2nd quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock worth $911,000 after purchasing an additional 160,225 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Wall Street Analyst Weigh In

KOD has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $58.00 price objective on shares of Kodiak Sciences in a research note on Monday, August 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. JPMorgan Chase & Co. increased their target price 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 cut Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. 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. According to data from MarketBeat, Kodiak Sciences presently has an average rating of “Moderate Buy” and an average price target of $48.14.

Kodiak Sciences Trading Up 0.1%

KOD stock opened at $32.89 on Friday. Kodiak Sciences Inc. has a 12-month low of $8.91 and a 12-month high of $47.84. The business’s 50-day moving average is $39.91 and its 200 day moving average is $36.84. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -7.85 and a beta of 2.18.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). As a group, equities analysts forecast that Kodiak Sciences Inc. will post -3.89 EPS for the current fiscal year.

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.