State of Wyoming Sells 10,198 Shares of Kodiak Sciences Inc. $KOD

State of Wyoming lowered its position in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 43.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,046 shares of the company’s stock after selling 10,198 shares during the quarter. State of Wyoming’s holdings in Kodiak Sciences were worth $1,237,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Kodiak Sciences in the 2nd quarter worth approximately $161,113,000. Jupiter Topco LLC purchased a new stake in shares of Kodiak Sciences during the second quarter valued at approximately $59,507,000. ICONIQ Capital LLC purchased a new stake in shares of Kodiak Sciences during the second quarter valued at approximately $49,345,000. Bank of America Corp DE bought a new stake in Kodiak Sciences during the second quarter worth $14,949,000. Finally, Boone Capital Management LLC bought a new stake in Kodiak Sciences during the second quarter worth $14,727,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Insider Activity

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker purchased 33,726 shares of the stock in a transaction dated Tuesday, September 29th. The shares were bought at an average price of $85.05 per share, with a total value of $2,868,396.30. Following the completion of the transaction, the director directly owned 20,191,214 shares in the company, valued at approximately $1,717,262,750.70. This trade represents a 0.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 1,941,755 shares of company stock valued at $156,986,026 over the last 90 days. Insiders own 44.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Kodiak Sciences from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 4th. JPMorgan Chase & Co. lifted their target price on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Jefferies Financial Group reiterated a “buy” rating and set a $112.00 target price on shares of Kodiak Sciences in a research note on Monday, September 28th. Lifesci Capital boosted their price target on shares of Kodiak Sciences from $85.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, September 28th. Finally, Weiss Ratings lowered shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.71.

Kodiak Sciences Stock Performance

Shares of KOD opened at $99.18 on Friday. Kodiak Sciences Inc. has a fifty-two week low of $15.83 and a fifty-two week high of $104.00. The business has a 50-day moving average of $63.72 and a 200 day moving average of $41.95. The firm has a market cap of $6.23 billion, a P/E ratio of -23.67 and a beta of 2.03.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). As a group, research analysts predict that Kodiak Sciences Inc. will post -3.97 earnings per share for the current fiscal year.

About Kodiak Sciences

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing treatments for retinal diseases. The company’s research centers on therapies designed to address conditions that can cause vision loss, including diabetic macular edema, neovascular age-related macular degeneration and retinal vein occlusion.

Kodiak’s proprietary Antibody Biopolymer Conjugate platform is designed to combine the targeting capabilities of antibody-based medicines with a biodegradable polymer intended to extend the duration of treatment in the eye.