Kodiak Sciences (NASDAQ:KOD) Sets New 52-Week High - Time to Buy?

Key Points

• Kodiak Sciences Inc. reached a new 12-month high stock price of $12.49, closing at $12.96 after trading 717,741 shares, marking a significant increase from its previous close of $9.53.
• Analysts have issued mixed ratings for Kodiak Sciences, with Jefferies giving a "buy" rating and a target of $15.00, while consensus analyst rating is a "hold" with a price target of $10.50.
• The company reported a quarterly loss of ($1.03) EPS, missing estimates by ($0.02), and has a market capitalization of $708.34 million.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $12.49 and last traded at $12.96, with a volume of 717741 shares. The stock had previously closed at $9.53.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HC Wainwright increased their target price on Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Jefferies Financial Group started coverage on shares of Kodiak Sciences in a research note on Monday. They issued a "buy" rating and a $15.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target on the stock in a report on Thursday, August 14th. Finally, Barclays boosted their price objective on shares of Kodiak Sciences from $4.00 to $7.00 and gave the stock an "underweight" rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Kodiak Sciences currently has an average rating of "Hold" and a consensus price target of $10.50.

Kodiak Sciences Price Performance

The firm has a market cap of $792.83 million, a P/E ratio of -3.95 and a beta of 2.44. The company's 50-day simple moving average is $8.60 and its 200 day simple moving average is $5.31.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.02). Analysts anticipate that Kodiak Sciences Inc. will post -3.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

Several large investors have recently made changes to their positions in KOD. US Bancorp DE grew its holdings in Kodiak Sciences by 131.7% in the first quarter. US Bancorp DE now owns 9,282 shares of the company's stock valued at $26,000 after purchasing an additional 5,276 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Kodiak Sciences during the 1st quarter worth about $28,000. Headlands Technologies LLC raised its stake in shares of Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock valued at $30,000 after acquiring an additional 5,815 shares during the period. Walleye Capital LLC purchased a new position in Kodiak Sciences during the 1st quarter valued at about $49,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Kodiak Sciences by 21.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company's stock worth $56,000 after buying an additional 2,691 shares during the period. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

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.