The Manufacturers Life Insurance Company Invests $902,000 in Kodiak Sciences Inc. (NASDAQ:KOD)

The Manufacturers Life Insurance Company acquired a new position in Kodiak Sciences Inc. (NASDAQ:KOD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 90,691 shares of the company’s stock, valued at approximately $902,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Boothbay Fund Management LLC lifted its stake in shares of Kodiak Sciences by 22.0% in the fourth quarter. Boothbay Fund Management LLC now owns 157,858 shares of the company’s stock worth $1,571,000 after buying an additional 28,420 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Kodiak Sciences in the fourth quarter worth $440,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Kodiak Sciences in the fourth quarter worth $11,338,000. Price T Rowe Associates Inc. MD raised its stake in Kodiak Sciences by 10,982.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,268,509 shares of the company’s stock valued at $12,622,000 after purchasing an additional 1,257,063 shares during the last quarter. Finally, Silverarc Capital Management LLC raised its stake in Kodiak Sciences by 100.0% during the 4th quarter. Silverarc Capital Management LLC now owns 1,000,000 shares of the company’s stock valued at $9,950,000 after purchasing an additional 500,000 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “neutral” rating and set a $3.00 target price on shares of Kodiak Sciences in a research note on Monday, March 31st.

Kodiak Sciences Price Performance

NASDAQ:KOD opened at $3.94 on Thursday. The stock has a market cap of $207.84 million, a P/E ratio of -1.08 and a beta of 2.42. Kodiak Sciences Inc. has a one year low of $1.92 and a one year high of $11.60. The company has a fifty day moving average price of $3.29 and a 200 day moving average price of $5.49.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Wednesday, May 21st. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.20). As a group, equities research analysts anticipate that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

About Kodiak Sciences

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.