Bruce & Co. Inc. Lowers Holdings in Kodiak Sciences Inc. $KOD

Bruce & Co. Inc. reduced its position in Kodiak Sciences Inc. (NASDAQ:KOD) by 12.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 145,000 shares of the company’s stock after selling 20,000 shares during the quarter. Kodiak Sciences comprises about 1.6% of Bruce & Co. Inc.’s holdings, making the stock its 21st largest position. Bruce & Co. Inc.’s holdings in Kodiak Sciences were worth $5,527,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Westfuller Advisors LLC acquired a new stake in shares of Kodiak Sciences in the 1st quarter worth $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Kodiak Sciences in the first quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Kodiak Sciences by 1,221.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after acquiring an additional 916 shares during the period. KBC Group NV acquired a new position in shares of Kodiak Sciences during the first quarter worth about $39,000. Finally, GF Fund Management CO. LTD. purchased a new position in Kodiak Sciences during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Price Performance

Shares of NASDAQ KOD opened at $41.02 on Friday. The firm’s 50-day moving average is $36.91 and its two-hundred day moving average is $33.29. The company has a market capitalization of $2.57 billion, a PE ratio of -9.84 and a beta of 2.19. Kodiak Sciences Inc. has a 12-month low of $6.21 and a 12-month high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.01). On average, analysts forecast that Kodiak Sciences Inc. will post -3.78 EPS for the current fiscal year.

Analyst Ratings Changes

KOD has been the subject of a number of recent analyst reports. HC Wainwright restated 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. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. UBS Group increased their target price on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Kodiak Sciences presently has a consensus rating of “Moderate Buy” and an average price target 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.