Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Down 32.1% in May

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

Wall Street Analysts Forecast Growth

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

Kodiak Sciences Stock Performance

Shares of NASDAQ:KOD traded up $0.09 during midday trading on Friday, hitting $3.62. 244,299 shares of the stock were exchanged, compared to its average volume of 348,683. The company has a market capitalization of $190.99 million, a PE ratio of -1.00 and a beta of 2.27. Kodiak Sciences has a 52-week low of $1.92 and a 52-week high of $11.60. The business's fifty day simple moving average is $3.70 and its two-hundred day simple moving average is $5.20.

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

Institutional Trading of Kodiak Sciences

A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new stake in Kodiak Sciences in the fourth quarter worth $902,000. Dimensional Fund Advisors LP lifted its position in shares of Kodiak Sciences by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 521,237 shares of the company's stock worth $5,186,000 after buying an additional 26,058 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Kodiak Sciences by 194.9% during the 4th quarter. JPMorgan Chase & Co. now owns 131,646 shares of the company's stock worth $1,310,000 after acquiring an additional 86,998 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Kodiak Sciences by 287.2% during the 4th quarter. Nantahala Capital Management LLC now owns 266,613 shares of the company's stock worth $2,653,000 after acquiring an additional 197,756 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new position in shares of Kodiak Sciences in the 4th quarter valued at approximately $9,950,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.