Kodiak Sciences (NASDAQ:KOD) Releases Earnings Results, Misses Expectations By $0.02 EPS

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

Kodiak Sciences Stock Up 13.3%

Shares of KOD traded up $4.46 during midday trading on Tuesday, hitting $38.12. The company’s stock had a trading volume of 2,556,370 shares, compared to its average volume of 1,578,470. Kodiak Sciences has a one year low of $1.92 and a one year high of $45.60. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -9.25 and a beta of 2.61. The company’s fifty day simple moving average is $25.50 and its two-hundred day simple moving average is $22.35.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KOD. HC Wainwright reaffirmed a “buy” rating and issued a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research note on Friday. UBS Group increased their price objective on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Weiss Ratings reissued 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 issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.43.

Institutional Trading of Kodiak Sciences

Large investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Kodiak Sciences in the fourth quarter valued at approximately $119,000. BNP Paribas Financial Markets boosted its position in Kodiak Sciences by 89.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock worth $104,000 after buying an additional 3,009 shares during the period. Cibc World Market Inc. bought a new stake in Kodiak Sciences during the 4th quarter worth approximately $206,000. Headlands Technologies LLC grew its holdings in Kodiak Sciences by 256.4% during the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock worth $30,000 after acquiring an additional 5,815 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in Kodiak Sciences in the 4th quarter valued at approximately $272,000. 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.