Millennium Management LLC recently announced the acquisition of new stake in Kodiak Sciences Inc (NASDAQ:KOD). The institutional investor has increased its shareholding in the Healthcare company by 41.55% to 1.71 million shares with purchase of 0.5 million shares. This fresh investment now brings its stake to 3.26% valued currently at $4.14 million. In addition, Acadian Asset Management LLC raised its holdings by 1.17 million to 1.64 million shares. And Newtyn Management LLC has lifted its position by 62.54% or 0.62 million shares – to 1.61 million shares.
With over 0.47 million Kodiak Sciences Inc (KOD) shares trading Friday and a closing price of $3.04 on the day, the dollar volume was approximately $1.42 million. The shares have shown a negative half year performance of -55.23% and its price on 12/22/23 gained nearly 3.40%. Currently, there are 52.33M common shares owned by the public and among those 48.88M shares have been available to trade.
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Insiders at the company have transacted a total of 9 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 16,913 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 67,587 shares.
The top 3 mutual fund holders in Kodiak Sciences Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and BlackRock Advantage Small Cap Cor. Vanguard Total Stock Market ETF owns 0.98 million shares of the company’s stock, all valued at over $2.37 million. iShares Russell 2000 ETF bought 387.0 shares to see its total holdings expand to 0.79 million shares valued at over $1.9 million and representing 1.50% of the shares outstanding. BlackRock Advantage Small Cap Cor sold 8641.0 shares to bring its total holdings to over 0.55 million shares at a value of $1.32 million. BlackRock Advantage Small Cap Cor now owns shares totaling to 1.04% of the shares outstanding.
Shares of Kodiak Sciences Inc (NASDAQ: KOD) opened at $2.96, up $0.02 from a prior closing price of $2.94. However, the script later moved the day high at 3.2300, up 3.40%. The company’s stock has a 5-day price change of 1.00% and 49.02% over the past three months. KOD shares are trading -57.54% year to date (YTD), with the 12-month market performance down to -57.54% lower. It has a 12-month low price of $1.37 and touched a high of $9.80 over the same period. KOD has an average intraday trading volume of 946.07K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.28%, 37.28%, and -25.73% respectively.
Institutional ownership of Kodiak Sciences Inc (NASDAQ: KOD) shares accounts for 80.30% of the company’s 52.33M shares outstanding. Mutual fund holders own 40.32%, while other institutional holders and individual stakeholders account for 66.20% and 14.10% respectively.
It has a market capitalization of $159.51M and a beta (3y monthly) value of 1.99. The earnings-per-share (ttm) stands at -$5.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.08% over the week and 10.98% over the month.
Analysts forecast that Kodiak Sciences Inc (KOD) will achieve an EPS of -$0.81 for the current quarter, -$0.89 for the next quarter and -$3.15 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.05 while analysts give the company a high EPS estimate of -$0.54. Comparatively, EPS for the current quarter was -$1.35 a year ago. Earnings per share for the fiscal year are expected to increase by 27.45%, and 37.66% over the next financial year. EPS should grow at an annualized rate of 12.40% over the next five years, compared to -53.05% over the past 5-year period.
Looking at the support for the KOD, a number of firms have released research notes about the stock. Goldman stated their Sell rating for the stock in a research note on December 11, 2023, with the firm’s price target at $2.
