Silverarc Capital Management LLC Buys 500,000 Shares of Kodiak Sciences Inc. (NASDAQ:KOD)

Silverarc Capital Management LLC boosted its position in shares of Kodiak Sciences Inc. (NASDAQ:KOD - Free Report) by 100.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,000,000 shares of the company's stock after purchasing an additional 500,000 shares during the quarter. Kodiak Sciences comprises 2.2% of Silverarc Capital Management LLC's holdings, making the stock its 15th biggest position. Silverarc Capital Management LLC owned 1.90% of Kodiak Sciences worth $9,950,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MetLife Investment Management LLC acquired a new position in shares of Kodiak Sciences in the 4th quarter valued at $209,000. Dimensional Fund Advisors LP increased its holdings in Kodiak Sciences by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 521,237 shares of the company's stock valued at $5,186,000 after purchasing an additional 26,058 shares during the last quarter. Jump Financial LLC acquired a new position in Kodiak Sciences in the fourth quarter valued at about $147,000. Invesco Ltd. boosted its holdings in Kodiak Sciences by 545.7% during the fourth quarter. Invesco Ltd. now owns 519,010 shares of the company's stock worth $5,164,000 after buying an additional 438,635 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Kodiak Sciences during the 4th quarter worth about $236,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Stock Down 1.9 %

Shares of KOD traded down $0.08 during trading hours on Friday, reaching $4.11. The stock had a trading volume of 252,155 shares, compared to its average volume of 342,933. The company has a market cap of $216.79 million, a P/E ratio of -1.13 and a beta of 2.40. Kodiak Sciences Inc. has a 52 week low of $1.92 and a 52 week high of $11.60. The firm has a 50-day moving average of $3.27 and a 200 day moving average of $5.40.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly earnings results 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 expect that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.

Analysts Set New Price Targets

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

Kodiak Sciences 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.