Renaissance Technologies LLC Sells 65,500 Shares of Kodiak Sciences Inc. $KOD

Renaissance Technologies LLC lowered its position in Kodiak Sciences Inc. (NASDAQ:KOD) by 18.2% during the first quarter, Holdings Channel reports. The institutional investor owned 294,300 shares of the company’s stock after selling 65,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Kodiak Sciences were worth $11,219,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Westfuller Advisors LLC purchased a new stake in Kodiak Sciences during the first quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new stake in Kodiak Sciences in the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in Kodiak Sciences by 1,221.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after purchasing an additional 916 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in Kodiak Sciences in the fourth quarter worth $29,000. Finally, Headlands Technologies LLC increased its position in shares of Kodiak Sciences by 256.4% during the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock worth $30,000 after purchasing an additional 5,815 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Performance

Shares of KOD opened at $41.58 on Friday. The stock has a 50-day moving average of $37.54 and a two-hundred day moving average of $33.87. The stock has a market cap of $2.60 billion, a P/E ratio of -9.97 and a beta of 2.19. Kodiak Sciences Inc. has a one year low of $6.21 and a one year high of $47.84.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). Analysts predict that Kodiak Sciences Inc. will post -3.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on KOD. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $61.00 in a report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Finally, Wall Street Zen raised Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average 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.