TCG Crossover Management LLC Buys 137,380 Shares of Kodiak Sciences Inc. (NASDAQ:KOD)

TCG Crossover Management LLC lifted its position in Kodiak Sciences Inc. (NASDAQ:KOD) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,145,538 shares of the company’s stock after acquiring an additional 137,380 shares during the quarter. Kodiak Sciences makes up approximately 1.1% of TCG Crossover Management LLC’s portfolio, making the stock its 29th largest position. TCG Crossover Management LLC owned about 2.18% of Kodiak Sciences worth $11,398,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Kodiak Sciences by 1,501.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company’s stock valued at $32,000 after buying an additional 2,988 shares during the last quarter. American Century Companies Inc. increased its position in shares of Kodiak Sciences by 6.2% during the fourth quarter. American Century Companies Inc. now owns 59,967 shares of the company’s stock valued at $597,000 after acquiring an additional 3,515 shares during the last quarter. US Bancorp DE bought a new stake in Kodiak Sciences during the fourth quarter worth $40,000. Bank of New York Mellon Corp lifted its holdings in Kodiak Sciences by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 98,102 shares of the company’s stock worth $976,000 after acquiring an additional 4,927 shares during the period. Finally, Northern Trust Corp boosted its position in Kodiak Sciences by 2.9% in the fourth quarter. Northern Trust Corp now owns 269,597 shares of the company’s stock worth $2,682,000 after purchasing an additional 7,678 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “neutral” rating and set a $3.00 target price on shares of Kodiak Sciences in a research note on Monday, March 31st.

Kodiak Sciences Trading Up 2.4 %

NASDAQ:KOD opened at $4.21 on Tuesday. The firm’s 50 day moving average is $3.26 and its 200 day moving average is $5.45. Kodiak Sciences Inc. has a 12 month low of $1.92 and a 12 month high of $11.60. The stock has a market capitalization of $222.07 million, a PE ratio of -1.15 and a beta of 2.40.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.06. Research analysts predict that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.

Kodiak Sciences Profile

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.