The Manufacturers Life Insurance Company Buys Shares of 114,089 Kodiak Sciences Inc. $KOD

The Manufacturers Life Insurance Company bought a new position in Kodiak Sciences Inc. (NASDAQ:KOD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 114,089 shares of the company’s stock, valued at approximately $4,445,000. The Manufacturers Life Insurance Company owned approximately 0.18% of Kodiak Sciences as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Westfuller Advisors LLC bought a new position in shares of Kodiak Sciences during the 1st quarter valued at $26,000. V Square Quantitative Management LLC bought a new stake in Kodiak Sciences in the first quarter worth $26,000. EverSource Wealth Advisors LLC increased its position in 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 buying an additional 916 shares during the last quarter. KBC Group NV acquired a new position in Kodiak Sciences during the first quarter worth $39,000. Finally, Cerity Partners LLC increased its position in Kodiak Sciences by 7.4% during the fourth quarter. Cerity Partners LLC now owns 16,446 shares of the company’s stock worth $460,000 after buying an additional 1,139 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Price Performance

Shares of Kodiak Sciences stock opened at $37.35 on Tuesday. Kodiak Sciences Inc. has a 52-week low of $8.29 and a 52-week high of $47.84. The firm has a market capitalization of $2.35 billion, a PE ratio of -8.91 and a beta of 2.21. The company’s fifty day moving average price is $40.27 and its two-hundred day moving average price is $36.20.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). Analysts predict that Kodiak Sciences Inc. will post -3.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Chardan Capital raised Kodiak Sciences from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their price objective on Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. HC Wainwright reaffirmed a “buy” rating and set a $58.00 target price on shares of Kodiak Sciences in a research report on Monday, August 17th. Finally, Wall Street Zen downgraded Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Six investment 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 stock has an average rating of “Moderate Buy” and a consensus target price of $48.14.

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.