Millennium Management LLC has recently announced that it has increased stake in Kodiak Sciences Inc (NASDAQ:KOD) by 41.55%. After grabbing 1.71 million shares, the institutional investor is now in possession of 0.5 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 3.26% having worth around $5.2 million. Moreover, Acadian Asset Management LLC increased its share by 1.17 million to have a control over 1.64 million shares. And Newtyn Management LLC raised its holdings to 0.62 million shares by acquiring 1.61 million shares or 3.07% of the stake.
Kodiak Sciences Inc (KOD) concluded trading on Thursday at a closing price of $4.81, with 3.47 million shares of worth about $16.7 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 48.46% during that period and on Thursday, January 25 the price saw a gain of about 28.61%. Currently the company’s common shares owned by public are about 52.33M shares, out of which, 48.88M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 8 times over the past 12 months. They bought 16,913 shares in 4 of the transactions. In 4 selling transactions, insiders dumped 7,587 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and BlackRock Advantage Small Cap Cor are the top 3 mutual funds which are holding stakes in Kodiak Sciences Inc Vanguard Total Stock Market ETF is currently holding 0.98 million shares of worth totaling $2.98 million. The company recently came buying 0.0 shares which brought its stake up to 1.87% of the company’s outstanding shares. iShares Russell 2000 ETF sold 2322.0 shares, after which its hold over company’s outstanding shares shrunk to 1.67%, leaving 0.88 million shares with the mutual fund that have a worth of about $2.66 million. BlackRock Advantage Small Cap Cor, after selling 0.55 million shares, have now control over 1.04% of the stake in the company. It holds 8641.0 shares of worth $1.66 million.
However, the stock later moved at a day high price of 5.1100, or with a gain of 28.61%. Stock saw a price change of 56.68% in past 5 days and over the past one month there was a price change of 58.22%. Year-to-date (YTD), KOD shares are showing a performance of 58.22% which decreased to -40.25% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.37 but also hit the highest price of $9.80 during that period. The average intraday trading volume for Kodiak Sciences Inc shares is 956.02K. The stock is currently trading 50.22% above its 20-day simple moving average (SMA20), while that difference is up 69.15% for SMA50 and it goes to 24.42% higher than SMA200.
Millennium Management LLC acquired 1.71 million shares of Kodiak Sciences Inc having value of about $5.2 million. Data submitted at the U.S SEC by Millennium Management LLC revealed that the firm now holds 0.5 million shares in the company valued at close to $2413431.93, or have control over 41.55% stake in the company. Kodiak Sciences Inc (NASDAQ: KOD) currently have 52.33M outstanding shares and institutions hold larger chunk of about 80.35% of that. Holding of mutual funds in the company is about 40.32% while other institutional holders and individual stake holders have control over 66.88% and 13.54% of the stake respectively.
The stock has a current market capitalization of $252.38M and its 3Y-monthly beta is at 2.05. It has posted earnings per share of -$5.18 in the same period. It has Quick Ratio of 4.96 while making debt-to-equity ratio of 0.61. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for KOD, volatility over the week remained 13.03% while standing at 9.20% over the month.
Analysts are in expectations that Kodiak Sciences Inc (KOD) stock would likely to be making an EPS of -$0.81 in the current quarter, while forecast for next quarter EPS is -$0.89 and it is -$3.15 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.05 which is -$0.54 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.35 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 27.44% while it is estimated to increase by 37.66% in next year. EPS is likely to grow at an annualized rate of 12.40% for next 5-years, compared to annual growth of -53.05% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on December 11, 2023 offering a Sell rating for the stock and assigned a target price of $2 to it.
