Cubist Systematic Strategies LLC Sells 13,343 Shares of Kodiak Sciences Inc. (NASDAQ:KOD)

Cubist Systematic Strategies LLC trimmed its stake in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 11.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,335 shares of the company’s stock after selling 13,343 shares during the quarter. Cubist Systematic Strategies LLC owned 0.19% of Kodiak Sciences worth $233,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KOD. Acadian Asset Management LLC boosted its holdings in Kodiak Sciences by 14.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,965,449 shares of the company’s stock valued at $4,614,000 after purchasing an additional 242,559 shares during the period. Renaissance Technologies LLC boosted its stake in Kodiak Sciences by 21.9% during the second quarter. Renaissance Technologies LLC now owns 708,800 shares of the company’s stock valued at $1,666,000 after buying an additional 127,400 shares during the period. Sei Investments Co. purchased a new position in Kodiak Sciences during the first quarter worth about $595,000. RIA Advisory Group LLC bought a new position in Kodiak Sciences in the 1st quarter worth about $489,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Kodiak Sciences in the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Up 2.3 %

NASDAQ KOD opened at $2.66 on Friday. The stock’s 50-day simple moving average is $2.60 and its two-hundred day simple moving average is $3.19. Kodiak Sciences Inc. has a twelve month low of $1.37 and a twelve month high of $7.77. The company has a market capitalization of $139.74 million, a price-to-earnings ratio of -0.60 and a beta of 2.34.

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

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “neutral” rating and set a $3.00 price objective 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 given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.00.

Kodiak Sciences Company 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.