Insider Buying: Kodiak Sciences (NASDAQ:KOD) Director Buys 86,432 Shares of Stock

Kodiak Sciences Inc. (NASDAQ:KOD) Director Bros. Advisors Lp Baker acquired 86,432 shares of Kodiak Sciences stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $98.51 per share, for a total transaction of $8,514,416.32. Following the completion of the purchase, the director directly owned 20,424,859 shares of the company’s stock, valued at $2,012,052,860.09. The trade was a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Wednesday, November 4th, Bros. Advisors Lp Baker acquired 160,658 shares of Kodiak Sciences stock. The shares were bought at an average price of $98.51 per share, for a total transaction of $15,826,419.58.
• On Monday, September 28th, Bros. Advisors Lp Baker acquired 807,840 shares of Kodiak Sciences stock. The shares were bought at an average price of $72.57 per share, for a total transaction of $58,624,948.80.
• On Monday, September 28th, Bros. Advisors Lp Baker acquired 418,323 shares of Kodiak Sciences stock. The stock was bought at an average cost of $83.58 per share, with a total value of $34,963,436.34.
• On Tuesday, September 29th, Bros. Advisors Lp Baker acquired 33,726 shares of Kodiak Sciences stock. The stock was bought at an average cost of $85.05 per share, with a total value of $2,868,396.30.
• On Monday, September 28th, Bros. Advisors Lp Baker bought 681,866 shares of Kodiak Sciences stock. The stock was bought at an average price of $88.77 per share, with a total value of $60,529,244.82.

Kodiak Sciences Price Performance

Shares of Kodiak Sciences stock traded up $8.28 on Friday, reaching $99.30. The company had a trading volume of 1,038,739 shares, compared to its average volume of 1,128,011. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of -23.70 and a beta of 2.02. The firm’s 50-day moving average price is $68.36 and its two-hundred day moving average price is $43.32. Kodiak Sciences Inc. has a 1 year low of $15.83 and a 1 year high of $104.00.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.09). As a group, analysts anticipate that Kodiak Sciences Inc. will post -3.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group initiated coverage on shares of Kodiak Sciences in a research report on Wednesday, September 30th. They set a “neutral” rating and a $103.00 price objective on the stock. HC Wainwright raised their target price on shares of Kodiak Sciences from $96.00 to $126.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Weiss Ratings cut shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 6th. UBS Group lifted their price target on shares of Kodiak Sciences from $80.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Finally, Lifesci Capital upped their price target on shares of Kodiak Sciences from $85.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, September 28th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Kodiak Sciences presently has an average rating of “Moderate Buy” and an average price target of $104.71.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in shares of Kodiak Sciences by 72.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 60,256 shares of the company’s stock worth $5,712,000 after acquiring an additional 25,386 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Kodiak Sciences by 20.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 79,218 shares of the company’s stock valued at $7,238,000 after acquiring an additional 13,203 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Kodiak Sciences during the 3rd quarter valued at $304,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Kodiak Sciences in the 3rd quarter valued at $664,000. Finally, China Universal Asset Management Co. Ltd. grew its position in Kodiak Sciences by 15.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,468 shares of the company’s stock valued at $1,045,000 after acquiring an additional 1,509 shares during the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Sciences Company Profile

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing treatments for retinal diseases. The company’s research centers on therapies designed to address conditions that can cause vision loss, including diabetic macular edema, neovascular age-related macular degeneration and retinal vein occlusion.

Kodiak’s proprietary Antibody Biopolymer Conjugate platform is designed to combine the targeting capabilities of antibody-based medicines with a biodegradable polymer intended to extend the duration of treatment in the eye.