Jupiter Topco LLC Takes Position in Kodiak Sciences Inc. $KOD

Jupiter Topco LLC bought a new position in Kodiak Sciences Inc. (NASDAQ:KOD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,526,006 shares of the company’s stock, valued at approximately $59,507,000.

A number of other institutional investors and hedge funds have also modified their holdings of KOD. BlackRock Inc. purchased a new stake in Kodiak Sciences in the 2nd quarter worth about $161,113,000. Baker BROS. Advisors LP grew its stake in Kodiak Sciences by 15.1% during the 4th quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock valued at $556,940,000 after acquiring an additional 2,608,696 shares in the last quarter. Braidwell LP purchased a new position in Kodiak Sciences during the 4th quarter valued at about $57,955,000. RTW Investments LP acquired a new position in shares of Kodiak Sciences in the 4th quarter valued at about $41,603,000. Finally, ICONIQ Capital LLC acquired a new position in shares of Kodiak Sciences in the 2nd quarter valued at about $49,345,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Price Performance

KOD opened at $39.12 on Friday. The company has a market capitalization of $2.46 billion, a PE ratio of -9.34 and a beta of 2.21. Kodiak Sciences Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $47.84. The business has a 50-day moving average of $40.22 and a 200-day moving average of $36.01.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). On average, equities research analysts expect that Kodiak Sciences Inc. will post -3.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $58.00 price target on shares of Kodiak Sciences in a report on Monday, August 17th. Wall Street Zen lowered shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $61.00 in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.14.

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.