Boone Capital Management LLC Invests $11.72 Million in Kodiak Sciences Inc. $KOD

by · The Markets Daily

Boone Capital Management LLC bought a new position in shares of Kodiak Sciences Inc. (NASDAQ:KOD – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 715,877 shares of the company’s stock, valued at approximately $11,719,000. Kodiak Sciences comprises about 3.8% of Boone Capital Management LLC’s portfolio, making the stock its 12th biggest holding. Boone Capital Management LLC owned about 1.35% of Kodiak Sciences as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in shares of Kodiak Sciences by 89.4% in the third quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock valued at $104,000 after purchasing an additional 3,009 shares during the period. American Century Companies Inc. boosted its holdings in shares of Kodiak Sciences by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock worth $297,000 after buying an additional 4,703 shares during the period. Headlands Technologies LLC grew its stake in Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after buying an additional 5,815 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in Kodiak Sciences by 8.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 101,900 shares of the company’s stock valued at $380,000 after acquiring an additional 7,700 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in Kodiak Sciences in the 3rd quarter valued at about $204,000. Institutional investors own 89.06% of the company’s stock.

Wall Street Analyst Weigh In

KOD has been the subject of a number of research analyst reports. UBS Group initiated coverage on Kodiak Sciences in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Chardan Capital reiterated a “neutral” rating and set a $14.00 target price on shares of Kodiak Sciences in a research note on Monday, November 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of Kodiak Sciences in a research note on Tuesday, February 10th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.29.

Read Our Latest Stock Report on Kodiak Sciences

Kodiak Sciences Stock Down 2.5%

NASDAQ KOD opened at $23.19 on Friday. The firm has a 50-day moving average price of $25.40 and a two-hundred day moving average price of $20.74. Kodiak Sciences Inc. has a 12-month low of $1.92 and a 12-month high of $31.18. The company has a market capitalization of $1.23 billion, a P/E ratio of -5.63 and a beta of 2.61.

Insider Activity

In related news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of Kodiak Sciences stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the transaction, the director directly owned 18,358,772 shares of the company’s stock, valued at $422,251,756. This represents a 16.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 45.90% of the company’s stock.

About Kodiak Sciences

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding KOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kodiak Sciences Inc. (NASDAQ:KOD – Free Report).