Brokerages Set Kodiak Sciences Inc. (NASDAQ:KOD) PT at $28.29

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $28.2857.

Several research firms have recently commented on KOD. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. UBS Group started coverage on shares of Kodiak Sciences in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target for the company. Chardan Capital restated a “neutral” rating and issued a $14.00 price objective on shares of Kodiak Sciences in a research report on Monday, November 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Kodiak Sciences in a report on Tuesday, February 10th.

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $24.86 on Monday. The business has a 50 day simple moving average of $25.72 and a 200-day simple moving average of $20.29. Kodiak Sciences has a 12 month low of $1.92 and a 12 month high of $31.18. The stock has a market capitalization of $1.32 billion, a PE ratio of -6.03 and a beta of 2.61.

Insider Transactions at Kodiak Sciences

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker acquired 2,608,696 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was purchased at an average price of $23.00 per share, for a total transaction of $60,000,008.00. Following the completion of the transaction, the director owned 18,358,772 shares of the company’s stock, valued at $422,251,756. The trade was a 16.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 45.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KOD. EverSource Wealth Advisors LLC increased its position in shares of 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 buying an additional 916 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Kodiak Sciences during the 4th quarter valued at about $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Kodiak Sciences during the 4th quarter valued at about $72,000. Strs Ohio acquired a new position in Kodiak Sciences during the fourth quarter worth about $87,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Kodiak Sciences in the fourth quarter valued at about $119,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.