Bruce & Co. Inc. Has $4.61 Million Stake in Kodiak Sciences Inc. $KOD

Bruce & Co. Inc. reduced its position in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 40.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 165,000 shares of the company’s stock after selling 114,308 shares during the quarter. Kodiak Sciences accounts for about 1.4% of Bruce & Co. Inc.’s holdings, making the stock its 20th biggest position. Bruce & Co. Inc.’s holdings in Kodiak Sciences were worth $4,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KOD. Goldman Sachs Group Inc. grew its holdings in shares of Kodiak Sciences by 298.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock worth $36,433,000 after purchasing an additional 976,254 shares during the last quarter. State Street Corp grew its holdings in shares of Kodiak Sciences by 108.1% during the fourth quarter. State Street Corp now owns 1,732,015 shares of the company’s stock worth $48,427,000 after purchasing an additional 899,572 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Kodiak Sciences by 55.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock worth $7,668,000 after purchasing an additional 730,000 shares during the last quarter. Boone Capital Management LLC bought a new stake in shares of Kodiak Sciences during the third quarter worth about $11,719,000. Finally, Vanguard Group Inc. grew its holdings in shares of Kodiak Sciences by 18.6% during the fourth quarter. Vanguard Group Inc. now owns 2,313,395 shares of the company’s stock worth $64,683,000 after purchasing an additional 363,103 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Kodiak Sciences Stock Up 0.3%

Shares of KOD opened at $34.06 on Friday. Kodiak Sciences Inc. has a 12-month low of $3.43 and a 12-month high of $47.84. The business’s fifty day moving average is $39.30 and its 200 day moving average is $30.58. The stock has a market cap of $2.13 billion, a P/E ratio of -8.17 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). On average, analysts expect that Kodiak Sciences Inc. will post -3.89 EPS for the current year.

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.