Kodiak Sciences (NASDAQ:KOD) Releases Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• Kodiak Sciences reported a quarterly loss of $1.05 per share, missing analysts’ consensus estimate of a $0.96 loss by $0.09.
• The stock fell 7.9% to about $39.98 following the earnings release. Kodiak has a $2.50 billion market capitalization and remains highly volatile, with a beta of 2.21.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $48.14, although ratings range from Buy to Sell. Institutional investors own approximately 89.06% of the company.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.96) by ($0.09), Zacks reports.

Kodiak Sciences Stock Down 7.9%

Kodiak Sciences stock traded down $3.43 during mid-day trading on Thursday, reaching $39.98. The company had a trading volume of 814,038 shares, compared to its average volume of 859,325. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -9.59 and a beta of 2.21. The company has a 50 day moving average of $38.78 and a 200-day moving average of $34.80. Kodiak Sciences has a 52 week low of $8.29 and a 52 week high of $47.84.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC grew its position in Kodiak Sciences by 256.4% during the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock worth $30,000 after buying an additional 5,815 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Kodiak Sciences in the 1st quarter worth approximately $94,000. BNP Paribas Financial Markets lifted its position in shares of Kodiak Sciences by 89.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company's stock worth $104,000 after acquiring an additional 3,009 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Kodiak Sciences during the 4th quarter worth approximately $119,000. Finally, Jane Street Group LLC grew its holdings in shares of Kodiak Sciences by 441.3% during the 1st quarter. Jane Street Group LLC now owns 64,649 shares of the company's stock worth $181,000 after purchasing an additional 52,705 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KOD. JPMorgan Chase & Co. lifted their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Chardan Capital upgraded shares of Kodiak Sciences from a "neutral" rating to a "buy" rating and upped their price target for the company from $14.00 to $61.00 in a report on Monday, May 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kodiak Sciences in a research note on Friday, July 10th. Finally, Wall Street Zen raised Kodiak Sciences from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.14.

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.

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