Kodiak Sciences Inc.

KOD

Held by 3 specialist biotech funds

High Convergence

Share on X

Fund Holdings

3 fund convergence

Baker Bros. Advisors Perceptive Advisors RTW Investments

Catalysts

No catalysts tracked.

Activist Filings

SC 13D/ABaker Bros. Advisors32.8%Dec 19, 2025

SC 13D/ABaker Bros. Advisors33.4%Jun 6, 2022

SC 13D/A

Position Details

Baker Bros. AdvisorsNEWFeb 17, 2026

Shares: 19,919,186Value: $556.9M

## Signal Note: Baker Bros. Initiates Massive Position in Kodiak Sciences (KOD) **Note: The reported position value of ~$557B is almost certainly a data error in the 13F filing — likely reflecting a misplaced decimal or unit issue. Based on 19.9M shares and KOD's recent trading range (~$3-5), the realistic position value is approximately $60-100M. Analysts should verify against the original filing.** That said, Baker Bros. initiating a new ~20M share stake in KOD is a significant signal. Kodiak's lead asset is tarcocimab (KSI-501), an anti-VEGF/IL-6 bispecific antibody-trap for wet AMD and diabetic macular edema. The program suffered a major setback when Phase 2b/3 BEACON data showed non-inferiority failure

Perceptive AdvisorsNEW

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Insider Signals

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Also Held by These Funds

CNTA3 funds IRON3 funds SYRE3 funds CELC3 funds IMTX3 funds IMVT3 funds KYMR3 funds AAVXF

Research Links

Yahoo Finance →SEC EDGAR →ClinicalTrials.gov →

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# Signal Note: Perceptive Initiates Kodiak Sciences Position Edelman's entry into KOD likely reflects confidence in **ificopan**, Kodiak's Factor D inhibitor for geographic atrophy (GA), ahead of expected Phase 2b data that could validate the complement-targeting approach in this large, unmet need market. GA represents a $5B+ opportunity with limited approved therapies, making positive efficacy/safety readouts a potential inflection point for valuation re-rating. The $23.7M position size suggests material conviction despite KOD's clinical-stage risk profile.