Renaissance Technologies LLC Lowers Holdings in Kodiak Sciences Inc. (NASDAQ:KOD)

Renaissance Technologies LLC decreased its holdings in Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 24.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 461,600 shares of the company's stock after selling 146,150 shares during the period. Renaissance Technologies LLC owned about 0.88% of Kodiak Sciences worth $4,593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of KOD. State Street Corp lifted its holdings in shares of Kodiak Sciences by 1.8% during 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 last quarter. Geode Capital Management LLC increased its position in 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 buying an additional 12,783 shares in the last quarter. Invesco Ltd. raised its stake in Kodiak Sciences by 545.7% in the fourth quarter. Invesco Ltd. now owns 519,010 shares of the company's stock valued at $5,164,000 after buying an additional 438,635 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in Kodiak Sciences in the fourth quarter worth about $1,660,000. Finally, JPMorgan Chase & Co. boosted its holdings in Kodiak Sciences by 194.9% in the fourth quarter. JPMorgan Chase & Co. now owns 131,646 shares of the company's stock worth $1,310,000 after acquiring an additional 86,998 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

Kodiak Sciences Price Performance

KOD traded down $0.14 on Friday, reaching $4.05. 163,002 shares of the stock were exchanged, compared to its average volume of 342,591. The company's 50-day moving average price is $3.29 and its 200 day moving average price is $5.39. The firm has a market capitalization of $213.58 million, a PE ratio of -1.11 and a beta of 2.40. Kodiak Sciences Inc. has a fifty-two week low of $1.92 and a fifty-two week high of $11.60.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.06. As a group, equities analysts forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "neutral" rating and issued a $3.00 price objective on shares of Kodiak Sciences in a research report on Monday, March 31st.

About Kodiak Sciences

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.