Renaissance Technologies LLC Buys 127,400 Shares of Kodiak Sciences Inc. (NASDAQ:KOD)

Renaissance Technologies LLC lifted its position in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 21.9% in the second quarter, HoldingsChannel.com reports. The fund owned 708,800 shares of the company’s stock after buying an additional 127,400 shares during the period. Renaissance Technologies LLC’s holdings in Kodiak Sciences were worth $1,666,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. American Century Companies Inc. raised its position in Kodiak Sciences by 18.5% during the second quarter. American Century Companies Inc. now owns 54,323 shares of the company’s stock valued at $128,000 after purchasing an additional 8,470 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Kodiak Sciences during the first quarter worth $50,000. Vanguard Group Inc. boosted its stake in shares of Kodiak Sciences by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,654,448 shares of the company’s stock valued at $8,702,000 after purchasing an additional 10,978 shares in the last quarter. Nan Fung Group Holdings Ltd boosted its position in Kodiak Sciences by 62.7% during the 1st quarter. Nan Fung Group Holdings Ltd now owns 31,922 shares of the company’s stock worth $168,000 after buying an additional 12,300 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Kodiak Sciences in the first quarter worth $68,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Trading Down 0.8 %

Shares of NASDAQ KOD opened at $2.60 on Friday. The firm’s 50-day moving average price is $2.61 and its 200-day moving average price is $3.21. Kodiak Sciences Inc. has a 1-year low of $1.37 and a 1-year high of $7.77. The firm has a market capitalization of $136.59 million, a P/E ratio of -0.59 and a beta of 2.34.

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

Analyst Upgrades and Downgrades

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