Acadian Asset Management LLC Raises Stake in Kodiak Sciences Inc. (NASDAQ:KOD)

Acadian Asset Management LLC raised its stake in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 14.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,965,449 shares of the company's stock after acquiring an additional 242,559 shares during the quarter. Acadian Asset Management LLC owned approximately 3.74% of Kodiak Sciences worth $4,614,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Oxford Asset Management LLP acquired a new stake in shares of Kodiak Sciences during the 4th quarter valued at about $41,000. Headlands Technologies LLC purchased a new stake in shares of Kodiak Sciences in the first quarter valued at approximately $50,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Kodiak Sciences in the first quarter valued at approximately $68,000. Diversified Trust Co acquired a new position in shares of Kodiak Sciences during the 1st quarter worth approximately $83,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Kodiak Sciences during the 1st quarter valued at approximately $86,000. Hedge funds and other institutional investors own 89.06% of the company's stock.

Kodiak Sciences Stock Performance

Shares of KOD traded down $0.09 during trading hours on Thursday, hitting $2.38. 85,576 shares of the stock were exchanged, compared to its average volume of 529,845. The stock's 50-day moving average price is $2.68 and its two-hundred day moving average price is $3.56. Kodiak Sciences Inc. has a 12-month low of $1.37 and a 12-month high of $7.77. The company has a market cap of $125.03 million, a price-to-earnings ratio of -0.54 and a beta of 2.35.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.01. On average, research analysts expect that Kodiak Sciences Inc. will post -3.52 earnings per share for the current year.

Analyst Ratings Changes

Separately, HC Wainwright started coverage on shares of Kodiak Sciences in a research report on Thursday, September 5th. They issued a "neutral" rating and a $3.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Kodiak Sciences currently has an average rating of "Hold" and an average price target of $5.00.

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.