Kodiak Sciences Inc. (NASDAQ:KOD) Stake Lessened by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC cut its stake in Kodiak Sciences Inc. (NASDAQ:KOD) by 11.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,335 shares of the company’s stock after selling 13,343 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.19% of Kodiak Sciences worth $233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in shares of Kodiak Sciences in the second quarter valued at approximately $36,000. Squarepoint Ops LLC bought a new stake in Kodiak Sciences during the second quarter worth approximately $127,000. Marshall Wace LLP boosted its holdings in Kodiak Sciences by 41.6% during the second quarter. Marshall Wace LLP now owns 166,425 shares of the company’s stock worth $391,000 after buying an additional 48,930 shares in the last quarter. Sei Investments Co. boosted its holdings in Kodiak Sciences by 27.1% during the second quarter. Sei Investments Co. now owns 143,841 shares of the company’s stock worth $338,000 after buying an additional 30,683 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Kodiak Sciences by 21.9% during the second quarter. Renaissance Technologies LLC now owns 708,800 shares of the company’s stock worth $1,666,000 after buying an additional 127,400 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors.

Kodiak Sciences Stock Performance

Kodiak Sciences stock opened at $2.89 on Tuesday. The company has a 50 day moving average price of $2.59 and a 200 day moving average price of $3.00. Kodiak Sciences Inc. has a 52 week low of $1.37 and a 52 week high of $7.77. The firm has a market capitalization of $151.83 million, a price-to-earnings ratio of -0.65 and a beta of 2.34.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.01. Equities analysts forecast that Kodiak Sciences Inc. will post -3.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright restated a “neutral” rating and set a $3.00 target price on shares of Kodiak Sciences in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.00.

Kodiak Sciences Profile

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.