Kodiak Sciences (NASDAQ:KOD) Stock Price Up 6.5% – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price was up 6.5% on Wednesday . The stock traded as high as $26.23 and last traded at $26.1210. Approximately 431,601 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 743,558 shares. The stock had previously closed at $24.53.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. Chardan Capital reiterated a “neutral” rating and issued a $14.00 price target on shares of Kodiak Sciences in a report on Monday, November 17th. UBS Group started coverage on Kodiak Sciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. raised Kodiak Sciences from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $15.00 to $24.00 in a research report on Friday, October 24th. Finally, HC Wainwright boosted their price target on shares of Kodiak Sciences from $26.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.29.

Kodiak Sciences Stock Down 10.5%

The firm has a 50 day moving average of $25.91 and a 200 day moving average of $17.16. The firm has a market cap of $1.21 billion, a PE ratio of -5.53 and a beta of 2.67.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.09). On average, research analysts anticipate that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Insider Activity at Kodiak Sciences

In related news, Director Bros. Advisors Lp Baker acquired 2,608,696 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was bought at an average cost of $23.00 per share, with a total value of $60,000,008.00. Following the acquisition, the director owned 18,358,772 shares of the company’s stock, valued at approximately $422,251,756. The trade was a 16.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 45.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new position in shares of Kodiak Sciences in the 4th quarter worth approximately $29,000. Headlands Technologies LLC increased its holdings in Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock worth $30,000 after buying an additional 5,815 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Kodiak Sciences by 21.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock worth $56,000 after acquiring an additional 2,691 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Kodiak Sciences during the 4th quarter valued at $72,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Kodiak Sciences during the first quarter valued at $94,000. 89.06% of the stock is currently owned by institutional investors.

Kodiak Sciences Company Profile

Kodiak Sciences, Inc is a clinical?stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company’s proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak’s research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak’s pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.