TCG Crossover Management LLC Purchases 137,380 Shares of Kodiak Sciences Inc. (NASDAQ:KOD)

TCG Crossover Management LLC boosted its holdings in shares of Kodiak Sciences Inc. (NASDAQ:KOD) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,145,538 shares of the company’s stock after buying an additional 137,380 shares during the period. Kodiak Sciences makes up about 1.1% of TCG Crossover Management LLC’s holdings, making the stock its 29th largest holding. TCG Crossover Management LLC’s holdings in Kodiak Sciences were worth $11,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its holdings in shares of Kodiak Sciences by 1,501.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company’s stock valued at $32,000 after acquiring an additional 2,988 shares in the last quarter. American Century Companies Inc. raised its stake in Kodiak Sciences by 6.2% in the fourth quarter. American Century Companies Inc. now owns 59,967 shares of the company’s stock valued at $597,000 after purchasing an additional 3,515 shares in the last quarter. US Bancorp DE bought a new stake in Kodiak Sciences during the fourth quarter valued at approximately $40,000. Bank of New York Mellon Corp lifted its position in Kodiak Sciences by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 98,102 shares of the company’s stock valued at $976,000 after purchasing an additional 4,927 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Kodiak Sciences by 2.9% in the 4th quarter. Northern Trust Corp now owns 269,597 shares of the company’s stock worth $2,682,000 after buying an additional 7,678 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Kodiak Sciences in a report on Monday, March 31st.

Kodiak Sciences Trading Up 2.4 %

Shares of NASDAQ KOD opened at $4.21 on Tuesday. The stock’s 50-day moving average is $3.26 and its 200 day moving average is $5.45. The stock has a market cap of $222.07 million, a price-to-earnings ratio of -1.15 and a beta of 2.40. Kodiak Sciences Inc. has a 1-year low of $1.92 and a 1-year high of $11.60.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.06. On average, analysts forecast that Kodiak Sciences Inc. will post -3.45 EPS for the current fiscal year.

Kodiak Sciences Company 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.