Kodiak Sciences (NASDAQ:KOD) Shares Up 8.4% - Should You Buy?

Key Points

• Kodiak Sciences' shares surged 8.4% on Friday, reaching a high of $11.11 before closing at $10.88, with trading volume significantly up by 92% compared to average daily activity.
• Analyst ratings have varied, with JPMorgan Chase & Co. upgrading the stock to a "neutral" rating and a $15.00 price target, while Barclays maintained an "underweight" rating with a revised target of $7.00.
• Institutional investors hold a substantial portion of the company, owning 89.06% of Kodiak Sciences, indicating strong confidence in the stock from large financial entities.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report)'s stock price was up 8.4% during trading on Friday . The company traded as high as $11.11 and last traded at $10.88. Approximately 824,987 shares changed hands during mid-day trading, an increase of 92% from the average daily volume of 430,284 shares. The stock had previously closed at $10.04.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KOD shares. Barclays lifted 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. JPMorgan Chase & Co. upgraded Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target on the stock in a research report on Thursday, August 14th. Finally, HC Wainwright lifted their price target on Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Kodiak Sciences presently has a consensus rating of "Hold" and a consensus target price of $11.75.

Kodiak Sciences Stock Performance

The stock's 50 day moving average price is $5.93 and its 200-day moving average price is $4.51. The company has a market cap of $501.79 million, a PE ratio of -2.50 and a beta of 2.41.

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). On average, analysts anticipate that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Hedge Funds Weigh In On Kodiak Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC lifted its position in Kodiak Sciences by 256.4% in 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. US Bancorp DE increased its stake in shares of Kodiak Sciences by 131.7% in the first quarter. US Bancorp DE now owns 9,282 shares of the company's stock worth $26,000 after buying an additional 5,276 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of Kodiak Sciences in the first quarter worth $28,000. Jump Financial LLC bought a new stake in Kodiak Sciences during the 4th quarter valued at $147,000. Finally, Public Employees Retirement System of Ohio boosted its position in Kodiak Sciences by 183.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,759 shares of the company's stock valued at $147,000 after buying an additional 9,560 shares during the period. 89.06% of the stock is currently owned by institutional investors.

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.