Kodiak Sciences (NASDAQ:KOD) Posts Earnings Results

Kodiak Sciences (NASDAQ:KOD) issued its quarterly earnings results on Tuesday. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02), FiscalAI reports.

Kodiak Sciences Price Performance

Shares of KOD opened at $38.12 on Wednesday. The firm’s 50 day moving average is $25.50 and its 200-day moving average is $22.35. The stock has a market capitalization of $2.02 billion, a P/E ratio of -9.25 and a beta of 2.61. Kodiak Sciences has a 12-month low of $1.92 and a 12-month high of $45.60.

Institutional Trading of Kodiak Sciences

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in Kodiak Sciences in the first quarter worth approximately $188,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Kodiak Sciences during the 1st quarter valued at $94,000. Jane Street Group LLC boosted its stake in shares of Kodiak Sciences by 441.3% during the 1st quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock worth $181,000 after acquiring an additional 52,705 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Kodiak Sciences by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock worth $297,000 after acquiring an additional 4,703 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Kodiak Sciences by 190.7% in the 2nd quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock worth $911,000 after acquiring an additional 160,225 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.