Bruce & Co. Inc. Has $4.61 Million Stock Position in Kodiak Sciences Inc. $KOD

Bruce & Co. Inc. lessened its stake in Kodiak Sciences Inc. (NASDAQ:KOD) by 40.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,000 shares of the company’s stock after selling 114,308 shares during the quarter. Kodiak Sciences comprises 1.4% of Bruce & Co. Inc.’s investment portfolio, making the stock its 20th biggest position. Bruce & Co. Inc. owned 0.31% of Kodiak Sciences worth $4,613,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of KOD. Goldman Sachs Group Inc. raised its stake in Kodiak Sciences by 298.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock valued at $36,433,000 after purchasing an additional 976,254 shares in the last quarter. State Street Corp raised its stake in Kodiak Sciences by 108.1% in the fourth quarter. State Street Corp now owns 1,732,015 shares of the company’s stock valued at $48,427,000 after purchasing an additional 899,572 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Kodiak Sciences by 55.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock valued at $7,668,000 after purchasing an additional 730,000 shares in the last quarter. Boone Capital Management LLC acquired a new position in Kodiak Sciences in the third quarter valued at about $11,719,000. Finally, Vanguard Group Inc. raised its stake in Kodiak Sciences by 18.6% in the fourth quarter. Vanguard Group Inc. now owns 2,313,395 shares of the company’s stock valued at $64,683,000 after purchasing an additional 363,103 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Trading Up 0.3%

Shares of NASDAQ KOD opened at $34.06 on Friday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -8.17 and a beta of 2.21. Kodiak Sciences Inc. has a 12 month low of $3.43 and a 12 month high of $47.84. The stock has a 50-day moving average price of $39.30 and a two-hundred day moving average price of $30.58.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.01). On average, sell-side analysts predict that Kodiak Sciences Inc. will post -3.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on KOD shares. Chardan Capital raised Kodiak Sciences from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $61.00 in a research note on Monday, May 11th. Wall Street Zen raised Kodiak Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group boosted their price target on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.14.

About Kodiak Sciences

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company’s proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak’s research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak’s pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.