Cubist Systematic Strategies LLC Takes $345,000 Position in Kodiak Sciences Inc. $KOD

Cubist Systematic Strategies LLC purchased a new stake in Kodiak Sciences Inc. (NASDAQ:KOD) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 122,931 shares of the company’s stock, valued at approximately $345,000. Cubist Systematic Strategies LLC owned approximately 0.23% of Kodiak Sciences at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. US Bancorp DE grew its position in shares of Kodiak Sciences by 131.7% in the first quarter. US Bancorp DE now owns 9,282 shares of the company’s stock valued at $26,000 after purchasing an additional 5,276 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Kodiak Sciences in the first quarter valued at approximately $28,000. Walleye Capital LLC purchased a new stake in shares of Kodiak Sciences in the first quarter valued at approximately $49,000. Russell Investments Group Ltd. lifted its holdings in Kodiak Sciences by 729.9% in the first quarter. Russell Investments Group Ltd. now owns 21,039 shares of the company’s stock valued at $59,000 after acquiring an additional 18,504 shares during the last quarter. Finally, Aries Wealth Management acquired a new position in Kodiak Sciences in the first quarter valued at approximately $70,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KOD shares. Barclays upped their price objective on Kodiak Sciences from $4.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday, August 14th. HC Wainwright upped their price objective on Kodiak Sciences from $3.00 to $5.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. upgraded Kodiak Sciences from an “underweight” rating to a “neutral” rating and set a $15.00 price objective on the stock in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Kodiak Sciences presently has a consensus rating of “Hold” and a consensus price target of $11.75.

Kodiak Sciences Stock Up 2.0%

NASDAQ:KOD opened at $9.92 on Friday. The stock has a market capitalization of $523.97 million, a price-to-earnings ratio of -2.61 and a beta of 2.45. Kodiak Sciences Inc. has a 52 week low of $1.92 and a 52 week high of $11.60. The stock’s fifty day moving average is $7.77 and its two-hundred day moving average is $4.98.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.02). On average, sell-side analysts expect that Kodiak Sciences Inc. will post -3.45 EPS for the current fiscal year.

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.