Kodiak Sciences Inc. $KOD Stake Boosted by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in Kodiak Sciences Inc. (NASDAQ:KOD) by 81.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 793,613 shares of the company’s stock after purchasing an additional 357,284 shares during the period. Wellington Management Group LLP’s holdings in Kodiak Sciences were worth $30,919,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Westfuller Advisors LLC acquired a new position in shares of Kodiak Sciences in the first quarter worth $26,000. V Square Quantitative Management LLC acquired a new stake in Kodiak Sciences during the first quarter valued at $26,000. EverSource Wealth Advisors LLC grew its stake in Kodiak Sciences by 1,221.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after purchasing an additional 916 shares in the last quarter. Headlands Technologies LLC grew its stake in Kodiak Sciences by 256.4% in the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after purchasing an additional 5,815 shares in the last quarter. Finally, KBC Group NV acquired a new position in Kodiak Sciences in the 1st quarter worth about $39,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Stock Down 2.8%

Shares of KOD stock opened at $35.36 on Friday. Kodiak Sciences Inc. has a 12 month low of $8.55 and a 12 month high of $47.84. The company has a market cap of $2.22 billion, a PE ratio of -8.44 and a beta of 2.18. The business’s 50 day moving average is $40.33 and its two-hundred day moving average is $36.50.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.09). As a group, equities analysts expect that Kodiak Sciences Inc. will post -3.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KOD has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $61.00 in a report on Monday, May 11th. Wall Street Zen cut shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. HC Wainwright reissued a “buy” rating and issued a $58.00 target price on shares of Kodiak Sciences in a research report on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Kodiak Sciences in a research note 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 stock. According to MarketBeat.com, Kodiak Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $48.14.

Kodiak Sciences Company 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.