Bruce & Co. Inc. Sells 100,000 Shares of Kodiak Sciences Inc. (NASDAQ:KOD)

Bruce & Co. Inc. trimmed its stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 323,000 shares of the company's stock after selling 100,000 shares during the quarter. Kodiak Sciences makes up 1.0% of Bruce & Co. Inc.'s holdings, making the stock its 22nd biggest holding. Bruce & Co. Inc. owned about 0.61% of Kodiak Sciences worth $3,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its position in Kodiak Sciences by 26.4% during the third quarter. FMR LLC now owns 200,971 shares of the company's stock valued at $525,000 after acquiring an additional 41,987 shares during the last quarter. State Street Corp lifted its stake in shares of Kodiak Sciences by 1.8% in the 3rd quarter. State Street Corp now owns 816,634 shares of the company's stock valued at $2,131,000 after purchasing an additional 14,711 shares during the period. Barclays PLC lifted its stake in shares of Kodiak Sciences by 65.5% in the 3rd quarter. Barclays PLC now owns 79,658 shares of the company's stock valued at $208,000 after purchasing an additional 31,527 shares during the period. Geode Capital Management LLC boosted its position in shares of Kodiak Sciences by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 768,740 shares of the company's stock valued at $2,007,000 after purchasing an additional 12,783 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Kodiak Sciences by 220.9% during the third quarter. JPMorgan Chase & Co. now owns 44,648 shares of the company's stock worth $117,000 after purchasing an additional 30,735 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Separately, Jefferies Financial Group upgraded Kodiak Sciences from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a report on Monday, December 9th.

Kodiak Sciences Price Performance

Shares of KOD stock traded down $0.32 on Tuesday, reaching $3.20. 358,396 shares of the company were exchanged, compared to its average volume of 382,814. Kodiak Sciences Inc. has a one year low of $2.19 and a one year high of $11.60. The company has a market cap of $168.40 million, a price-to-earnings ratio of -0.88 and a beta of 2.26. The company has a 50-day moving average of $5.23 and a 200-day moving average of $5.43.

Kodiak Sciences Company Profile

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.