Boone Capital Management LLC Takes $14.73 Million Position in Kodiak Sciences Inc. $KOD

Boone Capital Management LLC bought a new position in Kodiak Sciences Inc. (NASDAQ:KOD) in the 2nd quarter, Holdings Channel reports. The fund bought 378,010 shares of the company’s stock, valued at approximately $14,727,000. Kodiak Sciences comprises approximately 3.4% of Boone Capital Management LLC’s holdings, making the stock its 12th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Kodiak Sciences during the first quarter valued at approximately $26,000. Westfuller Advisors LLC purchased a new stake in shares of Kodiak Sciences in the first quarter worth $26,000. EverSource Wealth Advisors LLC raised its position in shares of Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after purchasing an additional 916 shares during the period. KBC Group NV bought a new stake in shares of Kodiak Sciences during the 1st quarter valued at $39,000. Finally, Strs Ohio purchased a new position in shares of Kodiak Sciences during the 4th quarter valued at $87,000. Institutional investors own 89.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on KOD. Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $61.00 in a report on Monday, May 11th. JPMorgan Chase & Co. raised their price target on Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. HC Wainwright restated a “buy” rating and issued a $58.00 price objective on shares of Kodiak Sciences in a research report on Monday, August 17th. Wall Street Zen lowered Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.14.

Kodiak Sciences Stock Performance

KOD stock opened at $39.33 on Thursday. Kodiak Sciences Inc. has a one year low of $8.29 and a one year high of $47.84. The company’s fifty day moving average price is $40.16 and its 200-day moving average price is $35.89. The company has a market capitalization of $2.47 billion, a PE ratio of -9.39 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). On average, research analysts predict that Kodiak Sciences Inc. will post -3.83 EPS for the current fiscal year.

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.