Insider Buying: Kodiak Sciences (NASDAQ:KOD) Director Acquires $15,826,419.58 in Stock

Kodiak Sciences Inc. (NASDAQ:KOD) Director Bros. Advisors Lp Baker bought 160,658 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were bought at an average cost of $98.51 per share, with a total value of $15,826,419.58. Following the completion of the purchase, the director directly owned 20,343,130 shares in the company, valued at $2,004,001,736.30. This represents a 0.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Thursday, November 5th, Bros. Advisors Lp Baker purchased 86,432 shares of Kodiak Sciences stock. The shares were bought at an average price of $98.51 per share, for a total transaction of $8,514,416.32.
• On Monday, September 28th, Bros. Advisors Lp Baker purchased 807,840 shares of Kodiak Sciences stock. The stock was bought at an average cost of $72.57 per share, for a total transaction of $58,624,948.80.
• On Monday, September 28th, Bros. Advisors Lp Baker acquired 418,323 shares of Kodiak Sciences stock. The stock was bought at an average price of $83.58 per share, with a total value of $34,963,436.34.
• On Tuesday, September 29th, Bros. Advisors Lp Baker acquired 33,726 shares of Kodiak Sciences stock. The stock was bought at an average price of $85.05 per share, with a total value of $2,868,396.30.
• On Monday, September 28th, Bros. Advisors Lp Baker acquired 681,866 shares of Kodiak Sciences stock. The shares were bought at an average cost of $88.77 per share, with a total value of $60,529,244.82.

Kodiak Sciences Stock Performance

Shares of Kodiak Sciences stock opened at $99.30 on Monday. The business has a 50-day simple moving average of $69.56 and a 200-day simple moving average of $43.69. Kodiak Sciences Inc. has a one year low of $15.83 and a one year high of $104.00. The company has a market cap of $6.24 billion, a PE ratio of -23.70 and a beta of 2.02.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.09). On average, sell-side analysts predict that Kodiak Sciences Inc. will post -3.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KOD. UBS Group raised their price objective on shares of Kodiak Sciences from $80.00 to $120.00 and gave the company a “buy” rating in a report on Monday, September 28th. JPMorgan Chase & Co. boosted their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. HC Wainwright increased their target price on Kodiak Sciences from $96.00 to $126.00 and gave the company a “buy” rating in a report on Monday, October 12th. Weiss Ratings cut Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $112.00 price target on shares of Kodiak Sciences in a report on Monday, September 28th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.71.

Institutional Trading of Kodiak Sciences

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Kodiak Sciences in the 2nd quarter valued at about $161,113,000. Jupiter Topco LLC acquired a new position in shares of Kodiak Sciences during the 2nd quarter worth approximately $59,507,000. Janus Henderson Group PLC raised its position in shares of Kodiak Sciences by 32.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,325,457 shares of the company’s stock worth $50,540,000 after purchasing an additional 325,457 shares during the last quarter. ICONIQ Capital LLC purchased a new stake in Kodiak Sciences in the 2nd quarter valued at approximately $49,345,000. Finally, Wellington Management Group LLP lifted its stake in Kodiak Sciences by 81.9% in the 2nd quarter. Wellington Management Group LLP now owns 793,613 shares of the company’s stock valued at $30,919,000 after buying an additional 357,284 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

About Kodiak Sciences

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.