Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Update

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) was the target of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 2,280,000 shares, a drop of 32.1% from the May 15th total of 3,360,000 shares. Based on an average daily volume of 419,800 shares, the days-to-cover ratio is currently 5.4 days. Approximately 4.7% of the company's shares are short sold.

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently modified their holdings of KOD. Acadian Asset Management LLC raised its holdings in Kodiak Sciences by 27.0% during the first quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company's stock valued at $5,454,000 after buying an additional 413,821 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Kodiak Sciences by 16.3% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,325,707 shares of the company's stock worth $3,719,000 after buying an additional 186,180 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Kodiak Sciences by 10,982.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,268,509 shares of the company's stock worth $12,622,000 after buying an additional 1,257,063 shares in the last quarter. ICONIQ Capital LLC grew its position in Kodiak Sciences by 24.6% during the first quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company's stock worth $3,559,000 after buying an additional 249,699 shares in the last quarter. Finally, TCG Crossover Management LLC lifted its stake in Kodiak Sciences by 13.6% during the fourth quarter. TCG Crossover Management LLC now owns 1,145,538 shares of the company's stock worth $11,398,000 after purchasing an additional 137,380 shares during the period. Institutional investors and hedge funds own 89.06% of the company's stock.

Kodiak Sciences Stock Down 3.0%

Shares of Kodiak Sciences stock opened at $3.63 on Tuesday. The firm has a market cap of $191.32 million, a P/E ratio of -1.00 and a beta of 2.27. Kodiak Sciences has a fifty-two week low of $1.92 and a fifty-two week high of $11.60. The business has a 50-day moving average price of $3.62 and a 200 day moving average price of $5.25.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.20). As a group, equities research analysts anticipate that Kodiak Sciences will post -3.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "neutral" rating and issued a $3.00 target price on shares of Kodiak Sciences in a report on Monday, March 31st.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.

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