KOD Kodiak Sciences Inc. Insider Trading

CFO John Borgeson sells 30,000 KOD shares for $1.0M under 10b5-1 plan as stock down -35.1% from 52-week high

John A. Borgeson, Chief Financial Officer, executed two separate sales on 2026-06-04 totaling 30,000 shares for $1,023,008.64, with a blended average price of $34.10. This sale reduces his non-derivative holdings from 241.9K to 211.9K shares (-12.4%). The transaction is part of a pre-arranged 10b5-1 trading plan adopted 2025-09-29, meaning it is scheduled rather than discretionary. At the current price of $31.05, the stock is -35.1% from its 52-week high and down -32.3% over the past 30 days. The company is unprofitable (net income -$58.2M over the most recent full fiscal year) and has a market cap of $1.9B. The CFO's prior sales at this same ticker show consistently positive 30-day returns (+12.3%, +9.1%, +7.5%, +5.2%) but negative 90-day returns (-12.7%, -15.2%, -16.4%, -18.2%), indicating a pattern where post-sale price momentum eventually reverses downward at this ticker.

CFO John Borgeson sells 30,000 shares of Kodiak Sciences for $1.2M under 10b5-1 plan

John Borgeson, Chief Financial Officer of Kodiak Sciences, executed 4 separate sales totaling 30,000 shares for $1,197,488.49 on April 2, 2026, at prices ranging from $39.14 to $41.77 per share. This sale reduced his holdings by 14.1% from 213,316 to 183,316 shares and was conducted pursuant to a pre-arranged 10b5-1 trading plan adopted on September 29, 2025, meaning the timing and volume were scheduled in advance, not discretionary. The sale is routine in character—a CFO disposing of a significant but not controlling portion of his stake through a formal, legally-prescribed mechanism that eliminates any inference of opportunistic timing or conviction-signaling.

BAKER BROS. ADVISORS LP bought 2,608,696 shares ($60.0M) at $23.00 on 2025-12-18, raising stake 16.6% to 18.36M shares.

BAKER BROS. ADVISORS LP executed two separate purchases totaling 2,608,696 shares for $60,000,008.00 at a blended average price of $23.00, increasing its Kodiak Sciences holding by 16.6% from 15,750,076 to 18,358,772 shares. The transaction is material in size and the Director's cross-ticker track record shows 18 prior buys with an average 30-day return of +31.9%, suggesting a history of favorable entry points across his portfolio. However, Kodiak Sciences remains unprofitable with net income of $-61,457,000.00 over the most recent full fiscal year, and the current stock price of $26.00 remains -3.6% below its 52-week high despite a +33.1% surge over 30 days and +172.8% over 90 days—context suggesting significant recent momentum rather than stabilization at depressed levels. The scale of this accumulation and the backdrop of unprofitability warrant close attention to the Director's underlying thesis and near-term company developments.