Letko Brosseau & Associates Inc. bought a new stake in Kodiak Sciences Inc. (NYSE:KOD) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 15,275 shares of the company’s stock, valued at approximately $827,000.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Kodiak Sciences by 25.2% during the first quarter. BlackRock Inc. now owns 2,577,629 shares of the company’s stock worth $122,953,000 after purchasing an additional 518,392 shares during the last quarter. State Street Corp increased its position in Kodiak Sciences by 13.4% during the first quarter. State Street Corp now owns 757,111 shares of the company’s stock worth $36,114,000 after buying an additional 89,739 shares during the period. Geode Capital Management LLC increased its position in Kodiak Sciences by 24.2% during the first quarter. Geode Capital Management LLC now owns 406,060 shares of the company’s stock worth $19,369,000 after buying an additional 79,024 shares during the period. Candriam Luxembourg S.C.A. lifted its stake in Kodiak Sciences by 2,677.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 398,507 shares of the company’s stock valued at $21,568,000 after buying an additional 384,160 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Kodiak Sciences in the first quarter valued at approximately $14,104,000.
In other news, insider Jason Ehrlich sold 6,950 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $50.44, for a total transaction of $350,558.00. Following the sale, the insider now owns 40,934 shares of the company’s stock, valued at approximately $2,064,710.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A number of brokerages have recently commented on KOD. Zacks Investment Research cut shares of Kodiak Sciences from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. SunTrust Banks lowered their price objective on shares of Kodiak Sciences from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $81.91.
NYSE:KOD traded up $0.64 during trading hours on Thursday, hitting $47.54. The company’s stock had a trading volume of 4,876 shares, compared to its average volume of 338,503. Kodiak Sciences Inc. has a 52-week low of $9.47 and a 52-week high of $82.75. The business’s 50-day moving average is $48.71 and its two-hundred day moving average is $54.96.
Kodiak Sciences (NYSE:KOD) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.62) by $0.04.
Kodiak Sciences Company Profile
Kodiak Sciences Inc, a clinical stage biopharmaceutical company, provides novel therapeutics to treat ophthalmic diseases. The company's lead product candidate is KSI-301, a vascular endothelial growth factor (VEGF)-biologic that is in Phase I clinical study to treat wet age-related macular degeneration (AMD) and diabetic retinopathy.
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