Kodiak Sciences (NASDAQ:KOD) Reaches New 12-Month High on Insider Buying Activity

Kodiak Sciences Inc. (NASDAQ:KOD) shares reached a new 52-week high on Monday after an insider bought additional shares in the company. The stock traded as high as $106.72 and last traded at $106.1020, with a volume of 294,317 shares changing hands. The stock had previously closed at $99.30.

Specifically, Director Bros. Advisors Lp Baker purchased 86,432 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were purchased at an average price of $98.51 per share, for a total transaction of $8,514,416.32. Following the purchase, the director directly owned 20,424,859 shares of the company’s stock, valued at $2,012,052,860.09. This represents a 0.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bros. Advisors Lp Baker purchased 160,658 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were purchased at an average cost of $98.51 per share, for a total transaction of $15,826,419.58. Following the transaction, the director owned 20,343,130 shares of the company’s stock, valued at $2,004,001,736.30. This trade represents a 0.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Ratings Changes

Several research firms have recently weighed in on KOD. UBS Group increased their price objective on Kodiak Sciences from $80.00 to $120.00 and gave the company a “buy” rating in a report on Monday, September 28th. The Goldman Sachs Group assumed coverage on shares of Kodiak Sciences in a report on Wednesday, September 30th. They issued a “neutral” rating and a $103.00 target price on the stock. Weiss Ratings downgraded shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Wall Street Zen upgraded shares of Kodiak Sciences from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 4th. Finally, HC Wainwright raised their price objective on shares of Kodiak Sciences from $96.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Kodiak Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $104.71.

Kodiak Sciences Trading Up 7.3%

The company has a market capitalization of $6.70 billion, a PE ratio of -25.51 and a beta of 2.02. The firm has a 50 day simple moving average of $69.56 and a two-hundred day simple moving average of $43.69.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Research analysts expect that Kodiak Sciences Inc. will post -3.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new position in shares of Kodiak Sciences in the 2nd quarter valued at $14,949,000. Bank of New York Mellon Corp acquired a new position in shares of Kodiak Sciences during the 2nd quarter valued at $4,361,000. Squarepoint Ops LLC boosted its position in Kodiak Sciences by 112.6% during the 2nd quarter. Squarepoint Ops LLC now owns 151,098 shares of the company’s stock worth $5,887,000 after purchasing an additional 80,042 shares during the period. Algert Global LLC boosted its position in Kodiak Sciences by 26.1% during the 2nd quarter. Algert Global LLC now owns 186,476 shares of the company’s stock worth $7,265,000 after purchasing an additional 38,546 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Kodiak Sciences during the 2nd quarter worth $1,072,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Company Profile

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.