Kodiak Sciences (NASDAQ:KOD) Stock Rating Raised to “Hold” at Wall Street Zen

Kodiak Sciences (NASDAQ:KOD) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

KOD has been the topic of several other reports. Jefferies Financial Group restated a “buy” rating and set a $112.00 price objective on shares of Kodiak Sciences in a research report on Monday, September 28th. Weiss Ratings downgraded shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. upped their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. UBS Group increased their price target on Kodiak Sciences from $120.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. Finally, HC Wainwright raised their price target on Kodiak Sciences from $96.00 to $126.00 and gave the company a “buy” rating in a report on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

Kodiak Sciences Trading Up 2.7%

NASDAQ:KOD opened at $111.19 on Friday. Kodiak Sciences has a 12 month low of $18.15 and a 12 month high of $112.79. The company has a market cap of $6.99 billion, a PE ratio of -27.25 and a beta of 2.02. The company has a 50 day simple moving average of $76.72 and a two-hundred day simple moving average of $45.75.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Thursday, November 12th. The company reported ($1.05) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.01. Research analysts forecast that Kodiak Sciences will post -3.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Bros. Advisors Lp Baker acquired 807,840 shares of the business’s stock in a transaction on Monday, September 28th. The stock was acquired at an average cost of $72.57 per share, with a total value of $58,624,948.80. Following the acquisition, the director directly owned 19,121,134 shares in the company, valued at $1,387,620,694.38. This represents a 4.41% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders purchased 2,188,845 shares of company stock valued at $181,326,862. Corporate insiders own 44.40% of the company’s stock.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds have recently modified their holdings of KOD. KBC Group NV purchased a new position in Kodiak Sciences during the first quarter valued at $39,000. EverSource Wealth Advisors LLC lifted its stake in Kodiak Sciences by 94.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,927 shares of the company’s stock worth $73,000 after purchasing an additional 936 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Kodiak Sciences by 850.0% in the 3rd quarter. Sterling Capital Management LLC now owns 1,311 shares of the company’s stock worth $124,000 after purchasing an additional 1,173 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in Kodiak Sciences in the 2nd quarter worth $228,000. Finally, Cetera Investment Advisers purchased a new stake in Kodiak Sciences in the 1st quarter worth $228,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

Kodiak Sciences is a clinical-stage biopharmaceutical company focused on developing treatments for retinal and other eye diseases. The company’s research centers on therapies designed to address conditions involving damage to the retina and vision loss. Kodiak’s technology platform combines therapeutic antibodies with a biopolymer to create antibody biopolymer conjugates, which are designed to provide sustained treatment effects. Its development programs have included KSI-301, an investigational therapy targeting vascular endothelial growth factor (VEGF) for retinal diseases.