Kodiak Sciences (NASDAQ:KOD) Shares Up 6.5% - Time to Buy?

Key Points

• Kodiak Sciences Inc. shares rose by 6.5%, reaching a trading price of $16.84 after previously closing at $15.81.
• Several analysts have recently revised their ratings and price targets for Kodiak Sciences, with a consensus rating of "Hold" and a price target of $13.00.
• The company's market capitalization is approximately $864.66 million, and it reported a quarterly earnings loss of ($1.03) EPS, missing expectations.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report)'s stock price rose 6.5% during trading on Tuesday . The stock traded as high as $16.64 and last traded at $16.84. Approximately 506,789 shares traded hands during trading, a decline of 1% from the average daily volume of 510,830 shares. The stock had previously closed at $15.81.

Analysts Set New Price Targets

KOD has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 target price on the stock in a report on Thursday, August 14th. Jefferies Financial Group initiated coverage on Kodiak Sciences in a report on Monday, September 22nd. They set a "buy" rating and a $15.00 target price on the stock. HC Wainwright boosted their target price on Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Wall Street Zen raised Kodiak Sciences from a "sell" rating to a "hold" rating in a report on Friday. Finally, Barclays raised Kodiak Sciences from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $7.00 to $17.00 in a report on Thursday, September 25th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Kodiak Sciences currently has a consensus rating of "Hold" and a consensus price target of $13.00.

Kodiak Sciences Stock Up 3.5%

The stock has a market capitalization of $864.66 million, a price-to-earnings ratio of -4.31 and a beta of 2.44. The firm has a 50-day moving average of $9.62 and a two-hundred day moving average of $5.71.

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

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC increased its stake in shares of Kodiak Sciences by 256.4% in the second 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 last quarter. Bridgeway Capital Management LLC increased its stake in shares of Kodiak Sciences by 8.2% in the second quarter. Bridgeway Capital Management LLC now owns 101,900 shares of the company's stock worth $380,000 after acquiring an additional 7,700 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Kodiak Sciences by 55.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company's stock worth $7,668,000 after purchasing an additional 730,000 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Kodiak Sciences by 171.3% in the second quarter. Ameriprise Financial Inc. now owns 266,354 shares of the company's stock worth $994,000 after purchasing an additional 168,192 shares in the last quarter. Finally, Nantahala Capital Management LLC boosted its holdings in Kodiak Sciences by 11.3% in the second quarter. Nantahala Capital Management LLC now owns 590,884 shares of the company's stock worth $2,204,000 after purchasing an additional 60,171 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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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