114,089 Shares in Kodiak Sciences Inc. $KOD Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in Kodiak Sciences Inc. (NASDAQ:KOD) during the 2nd quarter, HoldingsChannel reports. The fund purchased 114,089 shares of the company’s stock, valued at approximately $4,445,000.

A number of other large investors have also recently bought and sold shares of KOD. AQR Capital Management LLC bought a new position in shares of Kodiak Sciences during the first quarter valued at $188,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Kodiak Sciences in the 1st quarter worth about $94,000. Jane Street Group LLC increased its position in shares of Kodiak Sciences by 441.3% during the 1st quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock worth $181,000 after purchasing an additional 52,705 shares in the last quarter. American Century Companies Inc. lifted its holdings in Kodiak Sciences by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after purchasing an additional 4,703 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Kodiak Sciences by 190.7% during the 2nd quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock valued at $911,000 after purchasing an additional 160,225 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KOD has been the topic of several research 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. JPMorgan Chase & Co. lifted their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Wall Street Zen downgraded Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Finally, Chardan Capital raised Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $61.00 in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Kodiak Sciences currently has an average rating of “Moderate Buy” and an average target price of $48.14.

Kodiak Sciences Stock Down 1.0%

Shares of KOD stock opened at $37.35 on Tuesday. The stock has a 50-day moving average price of $40.27 and a 200 day moving average price of $36.20. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -8.91 and a beta of 2.21. Kodiak Sciences Inc. has a 12 month low of $8.29 and a 12 month high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Sell-side analysts predict that Kodiak Sciences Inc. will post -3.89 earnings per share for the current fiscal year.

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.