Kodiak Sciences (NASDAQ:KOD) Shares Gap Down - Time to Sell?

Key Points

• Kodiak Sciences shares opened at $15.82, down from a previous close of $16.37, indicating a gap down in the stock price.
• Analysts have recently upgraded their ratings for Kodiak Sciences, with reports suggesting a consensus rating of "Hold" and an average price target of $13.00.
• Kodiak Sciences reported an earnings loss of ($1.03) per share in its last quarterly results, which was slightly worse than analyst estimates of ($1.01).

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $16.37, but opened at $15.82. Kodiak Sciences shares last traded at $16.28, with a volume of 44,649 shares.

Analyst Ratings Changes

Several analysts recently issued reports on KOD shares. Wall Street Zen upgraded shares of Kodiak Sciences from a "sell" rating to a "hold" rating in a report on Friday, September 26th. Jefferies Financial Group initiated coverage on Kodiak Sciences in a report on Monday, September 22nd. They issued a "buy" rating and a $15.00 price target for the company. HC Wainwright increased their price objective on Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Barclays upgraded Kodiak Sciences from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $7.00 to $17.00 in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. upgraded Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target for the company in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $13.00.

Kodiak Sciences Stock Performance

The firm has a fifty day simple moving average of $9.84 and a 200-day simple moving average of $5.79. The company has a market capitalization of $844.89 million, a PE ratio of -4.21 and a beta of 2.45.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KOD. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Kodiak Sciences by 21.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company's stock valued at $56,000 after buying an additional 2,691 shares during the period. American Century Companies Inc. lifted its holdings in shares of Kodiak Sciences by 6.3% during the second quarter. American Century Companies Inc. now owns 79,745 shares of the company's stock valued at $297,000 after purchasing an additional 4,703 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Kodiak Sciences by 131.7% during 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 last quarter. Headlands Technologies LLC lifted its holdings in shares of Kodiak Sciences by 256.4% during the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock valued at $30,000 after purchasing an additional 5,815 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Kodiak Sciences by 8.9% during the first quarter. Deutsche Bank AG now owns 73,564 shares of the company's stock valued at $207,000 after purchasing an additional 6,018 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

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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