Boone Capital Management LLC Sells 212,047 Shares of Kodiak Sciences Inc. $KOD

Boone Capital Management LLC cut its stake in Kodiak Sciences Inc. (NASDAQ:KOD) by 29.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 503,830 shares of the company’s stock after selling 212,047 shares during the quarter. Kodiak Sciences makes up approximately 4.7% of Boone Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Boone Capital Management LLC owned approximately 0.95% of Kodiak Sciences worth $14,087,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. TD Asset Management Inc bought a new position in shares of Kodiak Sciences in the third quarter valued at about $992,000. PSP Research LLC bought a new position in shares of Kodiak Sciences in the fourth quarter valued at about $543,000. Profund Advisors LLC bought a new position in shares of Kodiak Sciences in the fourth quarter valued at about $618,000. Vanguard Group Inc. raised its position in shares of 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 during the period. Finally, Fox Run Management L.L.C. raised its position in shares of Kodiak Sciences by 136.1% in the fourth quarter. Fox Run Management L.L.C. now owns 29,419 shares of the company’s stock valued at $823,000 after purchasing an additional 16,961 shares during the period. 89.06% of the stock is owned by institutional investors.

Kodiak Sciences Stock Performance

KOD stock opened at $35.71 on Thursday. The company’s 50-day simple moving average is $38.95 and its 200 day simple moving average is $30.89. Kodiak Sciences Inc. has a 52 week low of $3.43 and a 52 week high of $47.84. The company has a market capitalization of $2.23 billion, a PE ratio of -8.56 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly 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, analysts forecast that Kodiak Sciences Inc. will post -3.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $61.00 in a research report on Monday, May 11th. HC Wainwright reissued a “buy” rating and issued a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. UBS Group increased their price objective on shares of Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Kodiak Sciences Company Profile

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.