Kodiak Sciences (NASDAQ:KOD) Stock Price Up 8% - Time to Buy?

Key Points

• Kodiak Sciences Inc. stock price increased by 8%, reaching $13.48, despite experiencing a significant decline in trading volume.
• Analysts' ratings on Kodiak Sciences are mixed, with price targets ranging from $5.00 to $15.00, and a consensus rating of "Hold."
• The company recently reported a quarterly earnings miss, posting an EPS of ($1.03), slightly below analysts' expectations.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report)'s share price rose 8% during trading on Wednesday . The stock traded as high as $13.25 and last traded at $13.48. Approximately 51,217 shares changed hands during trading, a decline of 90% from the average daily volume of 517,993 shares. The stock had previously closed at $12.48.

Analyst Upgrades and Downgrades

KOD has been the subject of several 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 report on Monday, August 18th. Chardan Capital reiterated a "neutral" rating and issued a $14.00 price objective on shares of Kodiak Sciences in a report on Monday, October 6th. JPMorgan Chase & Co. upgraded Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price objective for the company in a report on Thursday, August 14th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Kodiak Sciences in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Kodiak Sciences from a "hold" rating to a "sell" rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.20.

Kodiak Sciences Trading Up 12.3%

The stock has a 50 day simple moving average of $11.06 and a 200-day simple moving average of $6.52. The firm has a market capitalization of $740.01 million, a P/E ratio of -3.69 and a beta of 2.67.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC grew its stake in shares of Kodiak Sciences by 256.4% during the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock valued at $30,000 after acquiring an additional 5,815 shares during the period. US Bancorp DE raised its holdings in shares of Kodiak Sciences by 131.7% during 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. Vontobel Holding Ltd. purchased a new stake in shares of Kodiak Sciences during the 1st quarter worth approximately $28,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Kodiak Sciences by 21.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company's stock worth $56,000 after acquiring an additional 2,691 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Kodiak Sciences during the 1st quarter worth approximately $49,000. 89.06% of the stock is currently owned by institutional investors.

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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