Kodiak Sciences (NASDAQ:KOD) Stock Price Down 5.5% - Should You Sell?

Key Points

• Shares fell 5.5% midday to $42.60 (previous close $45.07) on light volume—about 223,762 shares traded, 79% below the average daily volume of 1,049,649.
• Analyst coverage is mixed but tilted positive: five Buys, two Holds and one Sell give a MarketBeat consensus of "Moderate Buy" with a consensus price target of $35.43, even though some firms recently raised targets to $58 and $80.
• Kodiak is a clinical‑stage biopharma (lead candidate KSI‑301 for retinal diseases) with a $2.67B market cap and negative PE; it missed quarterly EPS at ($1.04) vs. ($1.02) expected and analysts forecast -3.45 EPS for the year, while institutional ownership is ~89%.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report)'s stock price dropped 5.5% during mid-day trading on Wednesday . The company traded as low as $42.55 and last traded at $42.60. Approximately 223,762 shares changed hands during trading, a decline of 79% from the average daily volume of 1,049,649 shares. The stock had previously closed at $45.07.

Analysts Set New Price Targets

KOD has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. HC Wainwright reiterated a "buy" rating and set a $58.00 target price (up from $38.00) on shares of Kodiak Sciences in a report on Friday, March 27th. Finally, UBS Group increased their target price on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Kodiak Sciences presently has an average rating of "Moderate Buy" and a consensus price target of $35.43.

Kodiak Sciences Stock Down 4.3%

The stock's fifty day moving average price is $28.82 and its two-hundred day moving average price is $24.43. The company has a market capitalization of $2.67 billion, a PE ratio of -9.98 and a beta of 2.39.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.02). On average, equities research analysts forecast that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Institutional Trading of Kodiak Sciences

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in Kodiak Sciences by 1,221.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company's stock worth $28,000 after buying an additional 916 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Kodiak Sciences in the fourth quarter worth about $29,000. Cerity Partners LLC lifted its holdings in Kodiak Sciences by 7.4% in the fourth quarter. Cerity Partners LLC now owns 16,446 shares of the company's stock worth $460,000 after buying an additional 1,139 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Kodiak Sciences in the fourth quarter worth about $72,000. Finally, BNP Paribas Financial Markets lifted its holdings in Kodiak Sciences by 89.4% in the third quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company's stock worth $104,000 after buying an additional 3,009 shares during the period. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

About Kodiak Sciences

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company's proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak's research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak's pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.

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