Bruce & Co. Inc. Lowers Stake in Kodiak Sciences Inc. (NASDAQ:KOD)

Bruce & Co. Inc. lessened its stake in Kodiak Sciences Inc. (NASDAQ:KOD) by 23.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 323,000 shares of the company’s stock after selling 100,000 shares during the quarter. Kodiak Sciences comprises 1.0% of Bruce & Co. Inc.’s holdings, making the stock its 22nd largest position. Bruce & Co. Inc.’s holdings in Kodiak Sciences were worth $3,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Kodiak Sciences by 1,501.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company’s stock worth $32,000 after acquiring an additional 2,988 shares during the period. US Bancorp DE purchased a new position in Kodiak Sciences during the 4th quarter worth $40,000. JPMorgan Chase & Co. raised its position in Kodiak Sciences by 220.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 44,648 shares of the company’s stock valued at $117,000 after purchasing an additional 30,735 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Kodiak Sciences by 61.4% in the 4th quarter. SG Americas Securities LLC now owns 20,684 shares of the company’s stock worth $206,000 after buying an additional 7,871 shares during the period. Finally, Barclays PLC grew its position in shares of Kodiak Sciences by 65.5% during the 3rd quarter. Barclays PLC now owns 79,658 shares of the company’s stock worth $208,000 after buying an additional 31,527 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Down 4.2 %

Kodiak Sciences stock opened at $3.21 on Friday. The firm has a market cap of $168.92 million, a P/E ratio of -0.88 and a beta of 2.26. The business has a fifty day moving average of $5.42 and a two-hundred day moving average of $5.37. Kodiak Sciences Inc. has a twelve month low of $2.19 and a twelve month high of $11.60.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upgraded Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, December 9th.

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.