Federated Hermes Inc. Buys 246,353 Shares of Kodiak Sciences Inc. (NASDAQ:KOD)

Posted by Defense World Staff on Mar 10th, 2023

Federated Hermes Inc. raised its holdings in shares of Kodiak Sciences Inc. (NASDAQ:KOD – Get Rating) by 142.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 419,562 shares of the company’s stock after buying an additional 246,353 shares during the quarter. Federated Hermes Inc. owned about 0.80% of Kodiak Sciences worth $3,247,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in shares of Kodiak Sciences by 5.3% in the third quarter. SG Americas Securities LLC now owns 46,224 shares of the company’s stock worth $358,000 after buying an additional 2,318 shares during the period. Royal Bank of Canada boosted its position in Kodiak Sciences by 89.0% during the 3rd quarter. Royal Bank of Canada now owns 7,592 shares of the company’s stock valued at $59,000 after acquiring an additional 3,575 shares in the last quarter. Swiss National Bank boosted its position in Kodiak Sciences by 7.9% during the 1st quarter. Swiss National Bank now owns 73,400 shares of the company’s stock valued at $567,000 after acquiring an additional 5,400 shares in the last quarter. Nan Fung Group Holdings Ltd boosted its position in Kodiak Sciences by 46.0% during the 1st quarter. Nan Fung Group Holdings Ltd now owns 19,622 shares of the company’s stock valued at $151,000 after acquiring an additional 6,182 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Kodiak Sciences by 55.6% in the 1st quarter. MetLife Investment Management LLC now owns 18,141 shares of the company’s stock worth $140,000 after purchasing an additional 6,480 shares in the last quarter. 80.02% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $5.99 on Friday. The firm has a market capitalization of $313.34 million, a P/E ratio of -0.88 and a beta of 1.79. The company’s 50-day moving average is $7.55 and its 200 day moving average is $7.79. Kodiak Sciences Inc. has a 1-year low of $4.90 and a 1-year high of $12.80.

Analyst Upgrades and Downgrades

KOD has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price target on Kodiak Sciences from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, November 10th. Morgan Stanley decreased their target price on shares of Kodiak Sciences from $12.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, November 14th. Capital One Financial started coverage on shares of Kodiak Sciences in a research note on Tuesday, November 15th. They set an “overweight” rating and a $24.00 target price for the company. Finally, Citigroup dropped their target price on shares of Kodiak Sciences from $8.00 to $6.00 in a report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.33.

Kodiak Sciences Profile

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Kodiak Sciences, Inc is a clinical-stage biopharmaceutical company. The firm engages in the development of novel therapies for the treatment of retinal diseases. Its product pipeline includes KSI-301 for wet AMD, KSI-301 for diabetic eye disease, KSI-501 for DME and uveitis, KSI-201 for resistant wet AMD, and KSI-401 for dry AMD.