Deutsche Bank AG Acquires New Shares in Kodiak Sciences Inc. $KOD

Deutsche Bank AG acquired a new position in shares of Kodiak Sciences Inc. (NASDAQ:KOD) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 55,347 shares of the company’s stock, valued at approximately $2,156,000.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in Kodiak Sciences during the first quarter worth about $188,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Kodiak Sciences during the 1st quarter valued at about $94,000. Jane Street Group LLC grew its position in shares of Kodiak Sciences by 441.3% in the 1st quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock valued at $181,000 after purchasing an additional 52,705 shares during the period. American Century Companies Inc. grew its position in shares of Kodiak Sciences by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after purchasing an additional 4,703 shares during the period. Finally, Federated Hermes Inc. increased its stake in Kodiak Sciences by 190.7% during the 2nd quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock worth $911,000 after purchasing an additional 160,225 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Stock Down 0.5%

KOD stock opened at $39.12 on Friday. The business has a 50 day moving average price of $40.22 and a two-hundred day moving average price of $36.01. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -9.34 and a beta of 2.21. Kodiak Sciences Inc. has a twelve month low of $8.29 and a twelve month high of $47.84.

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

Wall Street Analyst Weigh In

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

Kodiak Sciences 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.