PSP Research LLC Acquires New Holdings in Kodiak Sciences Inc. $KOD

PSP Research LLC purchased a new position in Kodiak Sciences Inc. (NASDAQ:KOD) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 19,418 shares of the company’s stock, valued at approximately $543,000. Kodiak Sciences accounts for 0.5% of PSP Research LLC’s holdings, making the stock its 18th largest position.

Other institutional investors also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in Kodiak Sciences in the 4th quarter worth approximately $29,000. Headlands Technologies LLC increased its position in Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock worth $30,000 after buying an additional 5,815 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Kodiak Sciences in the 4th quarter worth approximately $72,000. Strs Ohio bought a new position in Kodiak Sciences in the 4th quarter worth approximately $87,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Kodiak Sciences in the 1st quarter worth approximately $94,000. 89.06% of the stock is owned by institutional investors.

Kodiak Sciences Trading Down 1.7%

Shares of NASDAQ:KOD opened at $34.42 on Wednesday. Kodiak Sciences Inc. has a 1-year low of $3.26 and a 1-year high of $47.84. The firm has a market capitalization of $2.15 billion, a PE ratio of -8.25 and a beta of 2.32. The business’s 50 day moving average is $36.80 and its 200-day moving average is $28.72.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.01). On average, sell-side analysts predict that Kodiak Sciences Inc. will post -3.89 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on KOD. UBS Group lifted their price target on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. Chardan Capital raised Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. Wall Street Zen raised Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.14.

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.