Kodiak Sciences (NASDAQ:KOD) Stock Price Up 5.1% - Time to Buy?

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) shot up 5.1% on Tuesday . The company traded as high as $3.98 and last traded at $3.90. 216,909 shares were traded during trading, a decline of 37% from the average session volume of 345,457 shares. The stock had previously closed at $3.71.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "neutral" rating and issued a $3.00 target price on shares of Kodiak Sciences in a research note on Monday, March 31st.

Kodiak Sciences Stock Up 5.1%

The firm has a 50-day moving average price of $3.83 and a two-hundred day moving average price of $4.75. The firm has a market cap of $205.76 million, a PE ratio of -1.07 and a beta of 2.28.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.20). Research analysts forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its position in Kodiak Sciences by 27.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company's stock valued at $5,454,000 after acquiring an additional 413,821 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Kodiak Sciences by 16.3% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,325,707 shares of the company's stock worth $3,719,000 after purchasing an additional 186,180 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Kodiak Sciences by 10,982.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,268,509 shares of the company's stock worth $12,622,000 after buying an additional 1,257,063 shares during the last quarter. ICONIQ Capital LLC boosted its holdings in Kodiak Sciences by 24.6% in the first quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company's stock valued at $3,559,000 after purchasing an additional 249,699 shares in the last quarter. Finally, TCG Crossover Management LLC boosted its holdings in shares of Kodiak Sciences by 13.6% in the 4th quarter. TCG Crossover Management LLC now owns 1,145,538 shares of the company's stock valued at $11,398,000 after buying an additional 137,380 shares in the last quarter. Institutional investors and hedge funds 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.

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