Profund Advisors LLC Invests $618,000 in Kodiak Sciences Inc. $KOD

Profund Advisors LLC bought a new position in shares of Kodiak Sciences Inc. (NASDAQ:KOD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,092 shares of the company’s stock, valued at approximately $618,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in Kodiak Sciences in the 4th quarter valued at about $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Kodiak Sciences during the 4th quarter valued at approximately $72,000. Strs Ohio acquired a new stake in Kodiak Sciences during the 4th quarter worth approximately $87,000. BNP Paribas Financial Markets lifted its position in Kodiak Sciences by 89.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock worth $104,000 after acquiring an additional 3,009 shares during the period. Finally, Diversified Trust Co. purchased a new position in shares of Kodiak Sciences in the 4th quarter valued at approximately $219,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Stock Down 3.2%

Shares of NASDAQ:KOD opened at $36.23 on Friday. The company has a market cap of $2.27 billion, a P/E ratio of -8.69 and a beta of 2.32. Kodiak Sciences Inc. has a 52 week low of $3.26 and a 52 week high of $47.84. The company has a 50-day moving average price of $37.49 and a 200 day moving average price of $29.01.

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 analysts’ consensus estimates of ($0.93) by ($0.01). Analysts expect that Kodiak Sciences Inc. will post -3.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group boosted their target price on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a report on Friday, March 27th. Wall Street Zen upgraded shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. HC Wainwright reiterated a “buy” rating and issued a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Finally, Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $61.00 in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.14.

Kodiak Sciences Profile

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.