Fmr LLC Increases Stock Position in Kodiak Sciences Inc. (NASDAQ:KOD)

Fmr LLC lifted its position in Kodiak Sciences Inc. (NASDAQ:KOD) by 26.4% in the third quarter, Holdings Channel.com reports. The firm owned 200,971 shares of the company’s stock after purchasing an additional 41,987 shares during the quarter. Fmr LLC’s holdings in Kodiak Sciences were worth $525,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. LJI Wealth Management LLC raised its position in shares of Kodiak Sciences by 21.3% in the 3rd quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock worth $45,000 after acquiring an additional 3,000 shares in the last quarter. American Century Companies Inc. boosted its stake in Kodiak Sciences by 18.5% during the 2nd quarter. American Century Companies Inc. now owns 54,323 shares of the company’s stock valued at $128,000 after purchasing an additional 8,470 shares during the last quarter. SG Americas Securities LLC bought a new stake in Kodiak Sciences in the 3rd quarter worth about $33,000. Meeder Asset Management Inc. purchased a new position in shares of Kodiak Sciences during the second quarter valued at approximately $36,000. Finally, Sanctuary Advisors LLC purchased a new stake in Kodiak Sciences during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Wall Street Analysts Forecast Growth

KOD has been the topic of several recent research reports. Jefferies Financial Group upgraded shares of Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, December 9th. HC Wainwright reiterated a “neutral” rating and issued a $3.00 price target on shares of Kodiak Sciences in a report on Friday, November 15th. Finally, Barclays increased their price objective on shares of Kodiak Sciences from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Friday, November 15th.

Kodiak Sciences Trading Down 1.4 %

Shares of Kodiak Sciences stock opened at $8.75 on Thursday. Kodiak Sciences Inc. has a 12-month low of $2.18 and a 12-month high of $11.60. The firm’s 50 day simple moving average is $5.58 and its two-hundred day simple moving average is $3.68. The firm has a market capitalization of $460.46 million, a price-to-earnings ratio of -2.40 and a beta of 2.38.

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.