Kodiak Sciences (NASDAQ:KOD) Shares Gap Up - Should You Buy?

Key Points

• Kodiak Sciences Inc. saw its shares gap up from $8.62 to $9.44 before closing at $9.66, reflecting significant market activity with a volume of 482,098 shares traded.
• Analysts have mixed views on the stock, with JPMorgan Chase upgrading it to a "neutral" rating and setting a target price of $15.00, while Barclays maintains an "underweight" rating.
• The biopharmaceutical company reported a quarterly loss of ($1.03) EPS, missing estimates and is projected to post -3.45 EPS for the current year.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $8.62, but opened at $9.44. Kodiak Sciences shares last traded at $9.66, with a volume of 482,098 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on KOD. Barclays upped their price target on Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a research report on Thursday. JPMorgan Chase & Co. raised 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.

Kodiak Sciences Stock Performance

The stock has a market cap of $558.33 million, a P/E ratio of -2.78 and a beta of 2.41. The firm has a 50-day moving average price of $5.58 and a 200-day moving average price of $4.43.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.02). On average, research analysts predict that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC boosted its stake in Kodiak Sciences by 256.4% during the 2nd 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. US Bancorp DE raised its holdings in Kodiak Sciences by 131.7% in the 1st quarter. US Bancorp DE now owns 9,282 shares of the company's stock worth $26,000 after purchasing an additional 5,276 shares during the period. Vontobel Holding Ltd. bought a new position in Kodiak Sciences in the 1st quarter worth $28,000. Jump Financial LLC bought a new stake in Kodiak Sciences during the fourth quarter valued at about $147,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Kodiak Sciences by 183.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 14,759 shares of the company's stock valued at $147,000 after acquiring an additional 9,560 shares during the period. Institutional investors own 89.06% of the company's stock.

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.