Kodiak Sciences (NASDAQ:KOD) Hits New 12-Month High – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.69 and last traded at $46.1340, with a volume of 143208 shares trading hands. The stock had previously closed at $44.90.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group lifted their price target on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. HC Wainwright reissued a “buy” rating and set a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.43.

Kodiak Sciences Price Performance

The company has a market cap of $2.91 billion, a price-to-earnings ratio of -10.85 and a beta of 2.39. The firm’s fifty day moving average price is $30.04 and its 200-day moving average price is $24.99.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.02). As a group, equities analysts forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in Kodiak Sciences by 1,221.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after acquiring an additional 916 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Kodiak Sciences during the fourth quarter worth $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Kodiak Sciences during the fourth quarter worth $72,000. Strs Ohio acquired a new position in Kodiak Sciences during the fourth quarter worth $87,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Kodiak Sciences during the fourth quarter worth $119,000. 89.06% of the stock is owned by institutional investors and hedge funds.

About Kodiak Sciences

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.