Kodiak Sciences (NASDAQ:KOD) Trading Up 3.7% – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD) was up 3.7% on Tuesday . The company traded as high as $39.97 and last traded at $40.4550. Approximately 81,183 shares changed hands during trading, a decline of 92% from the average daily volume of 1,048,888 shares. The stock had previously closed at $39.00.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KOD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. 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, UBS Group boosted their price target on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kodiak Sciences has a consensus rating of “Moderate Buy” and an average price target of $35.43.

Kodiak Sciences Stock Up 0.0%

The firm has a market capitalization of $2.59 billion, a P/E ratio of -9.68 and a beta of 2.39. The firm has a 50 day moving average of $27.30 and a 200-day moving average of $23.59.

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

Institutional Investors Weigh In On Kodiak Sciences

Several institutional investors have recently made changes to their positions in KOD. Boone Capital Management LLC bought a new stake in Kodiak Sciences during the third quarter worth $11,719,000. TD Asset Management Inc bought a new stake in Kodiak Sciences during the third quarter worth $992,000. Campbell & CO Investment Adviser LLC bought a new stake in Kodiak Sciences during the third quarter worth $488,000. Fox Run Management L.L.C. bought a new stake in Kodiak Sciences during the third quarter worth $204,000. Finally, SG Americas Securities LLC bought a new stake in Kodiak Sciences during the third quarter worth $228,000. 89.06% of the stock is currently owned by institutional investors.

Kodiak Sciences Company Profile

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.