Kodiak Sciences Inc. $KOD Shares Newly Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Kodiak Sciences Inc. (NASDAQ:KOD) in the 3rd quarter, Holdings Channel.com reports. The firm bought 7,000 shares of the company’s stock, valued at approximately $664,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its stake in Kodiak Sciences by 15.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,468 shares of the company’s stock valued at $1,045,000 after buying an additional 1,509 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of Kodiak Sciences in the third quarter valued at approximately $263,000. Sterling Capital Management LLC lifted its position in shares of Kodiak Sciences by 850.0% in the third quarter. Sterling Capital Management LLC now owns 1,311 shares of the company’s stock valued at $124,000 after buying an additional 1,173 shares during the last quarter. Abel Hall LLC bought a new position in shares of Kodiak Sciences during the 3rd quarter worth approximately $423,000. Finally, JGP Global Gestao de Recursos Ltda. bought a new position in shares of Kodiak Sciences during the 3rd quarter worth approximately $347,000. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Trading Up 9.1%

KOD stock traded up $8.28 during mid-day trading on Friday, hitting $99.30. 1,048,160 shares of the company were exchanged, compared to its average volume of 1,153,712. The business has a 50 day simple moving average of $69.56 and a 200-day simple moving average of $43.69. The stock has a market capitalization of $6.24 billion, a PE ratio of -23.70 and a beta of 2.02. Kodiak Sciences Inc. has a 1-year low of $15.83 and a 1-year high of $104.00.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). Equities research analysts expect that Kodiak Sciences Inc. will post -3.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KOD shares. UBS Group boosted their target price on Kodiak Sciences from $80.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Weiss Ratings downgraded Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th. HC Wainwright lifted their price objective on shares of Kodiak Sciences from $96.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. JPMorgan Chase & Co. lifted their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group started coverage on shares of Kodiak Sciences in a report on Wednesday, September 30th. They issued a “neutral” rating and a $103.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Kodiak Sciences has an average rating of “Moderate Buy” and an average target price of $104.71.

Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker purchased 86,432 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was acquired at an average cost of $98.51 per share, with a total value of $8,514,416.32. Following the acquisition, the director owned 20,424,859 shares in the company, valued at approximately $2,012,052,860.09. This trade represents a 0.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 2,188,845 shares of company stock worth $181,326,862. Company insiders own 44.40% of the company’s stock.

Kodiak Sciences Company Profile

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing treatments for retinal diseases. The company’s research centers on therapies designed to address conditions that can cause vision loss, including diabetic macular edema, neovascular age-related macular degeneration and retinal vein occlusion.

Kodiak’s proprietary Antibody Biopolymer Conjugate platform is designed to combine the targeting capabilities of antibody-based medicines with a biodegradable polymer intended to extend the duration of treatment in the eye.