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.
Read Our Latest Research Report on KOD
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
(
Get Free Report)
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.
Recommended Stories
Before you consider Kodiak Sciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kodiak Sciences wasn't on the list.
While Kodiak Sciences currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.