Kodiak Sciences (NASDAQ:KOD) Shares Gap Up - What's Next?

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 prior to trading 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.

Wall Street Analysts Forecast Growth

KOD has been the topic of a number of recent research reports. HC Wainwright raised their price objective on Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research note on Monday. JPMorgan Chase & Co. raised shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 target price on the stock in a research note on Thursday, August 14th. Finally, Barclays boosted their price objective on shares of Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $11.75.

Kodiak Sciences Trading Down 15.7%

The company has a market capitalization of $500.73 million, a P/E ratio of -2.49 and a beta of 2.41. The firm has a fifty day moving average of $5.82 and a 200 day moving average of $4.48.

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

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC increased its stake in shares of Kodiak Sciences by 21.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company's stock worth $56,000 after purchasing an additional 2,691 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Kodiak Sciences by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company's stock valued at $297,000 after acquiring an additional 4,703 shares during the period. US Bancorp DE increased 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 acquiring an additional 5,276 shares in the last quarter. Headlands Technologies LLC raised 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 worth $30,000 after acquiring an additional 5,815 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Kodiak Sciences by 8.9% in the first quarter. Deutsche Bank AG now owns 73,564 shares of the company's stock worth $207,000 after purchasing an additional 6,018 shares during the period. Hedge funds and other 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.