Arizona State Retirement System lessened its holdings in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,281 shares of the company’s stock after selling 1,179 shares during the period. Arizona State Retirement System’s holdings in Kodiak Sciences were worth $770,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in KOD. Marshall Wace LLP acquired a new position in Kodiak Sciences during the first quarter worth $258,000. Marshall Wace North America L.P. purchased a new stake in Kodiak Sciences during the first quarter worth $73,000. Dimensional Fund Advisors LP purchased a new stake in Kodiak Sciences during the fourth quarter worth $1,877,000. Nisa Investment Advisors LLC boosted its position in Kodiak Sciences by 8.8% during the first quarter. Nisa Investment Advisors LLC now owns 1,235 shares of the company’s stock worth $140,000 after purchasing an additional 100 shares in the last quarter. Finally, US Bancorp DE boosted its position in Kodiak Sciences by 495.5% during the first quarter. US Bancorp DE now owns 393 shares of the company’s stock worth $45,000 after purchasing an additional 327 shares in the last quarter. 86.66% of the stock is currently owned by hedge funds and other institutional investors.
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NASDAQ KOD opened at $91.93 on Monday. The business’s 50-day moving average price is $90.05 and its 200 day moving average price is $99.91. Kodiak Sciences Inc. has a twelve month low of $45.02 and a twelve month high of $171.21. The company has a market capitalization of $4.73 billion, a PE ratio of -24.00 and a beta of 1.37.
Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Monday, August 9th. The company reported ($1.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.98) by ($0.10). Sell-side analysts predict that Kodiak Sciences Inc. will post -3.97 EPS for the current fiscal year.
In other news, Director Bros. Advisors Lp Baker purchased 38,264 shares of the company’s stock in a transaction on Friday, August 13th. The stock was bought at an average cost of $88.66 per share, for a total transaction of $3,392,486.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Ehrlich sold 6,950 shares of the stock in a transaction dated Friday, August 20th. The shares were sold at an average price of $91.44, for a total value of $635,508.00. Following the completion of the sale, the insider now owns 58,491 shares of the company’s stock, valued at approximately $5,348,417.04. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 183,599 shares of company stock worth $16,026,858 and have sold 21,997 shares worth $1,922,417. Corporate insiders own 39.30% of the company’s stock.
KOD has been the topic of a number of research analyst reports. Roth Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $155.00 to $149.00 in a research report on Tuesday, May 11th. BMO Capital Markets reduced their price objective on Kodiak Sciences from $138.00 to $104.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 11th. Finally, Barclays reduced their price objective on Kodiak Sciences from $90.00 to $86.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Kodiak Sciences has an average rating of “Hold” and an average price target of $133.00.
About Kodiak Sciences
Kodiak Sciences, Inc is a clinical-stage biopharmaceutical company. The firm engages in the development of novel therapies for the treatment of retinal diseases. Its product pipeline includes KSI-301 for wet AMD; KSI-301 for diabetic eye disease; KSI-501 for DME and uveitis; KSI-201 for resistant wet AMD; and KSI-401 for dry AMD.
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