KOD - Kodiak Sciences rises after director Baker Bros Advisors buys shares worth ~$4.4M

Shares of Kodiak Sciences (NASDAQ:KOD) have added 15.4% to $9.05 in Tuesday afternoon trading, and if the gains hold, the stock is on track to post an eight positive session in nine. Buoying the stock was KOD's disclosure that its director Baker Bros Advisors LP had purchased about 572K shares of the company at prices ranging from $7.36-$8.06, worth ~$4.4M. The shares were purchased between June 2-6. Baker Bros Advisors LP is a 10% owner of KOD stock. Kodiak stock had gained as much as 12.7% on June 1 on speculation that the company could become a target for an activist investor. Up to Monday's close, KOD stock has shed nearly 90.8% YTD, mainly due to an 80% plunge in late Feb. after its KSI-301 trial for vision disorder failed to meet its main goal.

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Kodiak Sciences rises after director Baker Bros Advisors buys shares worth ~$4.4M