Shares of Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) rose 9.7% during trading on Wednesday . The stock traded as high as $15.32 and last traded at $15.04. Approximately 145,709 shares changed hands during trading, a decline of 70% from the average daily volume of 481,075 shares. The stock had previously closed at $13.72.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on KOD. Jefferies Financial Group began coverage on Kodiak Sciences in a research report on Monday. They set a "buy" rating and a $15.00 price objective on the stock. HC Wainwright boosted their target price on shares of Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Barclays upped their price objective on shares of Kodiak Sciences from $4.00 to $7.00 and gave the company an "underweight" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price objective for the company in a research note on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $10.50.
Check Out Our Latest Stock Analysis on KOD
Kodiak Sciences Trading Up 8.5%
The stock's 50 day moving average price is $8.78 and its 200 day moving average price is $5.36. The firm has a market cap of $786.60 million, a PE ratio of -3.93 and a beta of 2.45.
Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.02). Analysts forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. grew its holdings in Kodiak Sciences by 55.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company's stock worth $7,668,000 after acquiring an additional 730,000 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Kodiak Sciences by 1.2% during the 2nd quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company's stock worth $7,343,000 after acquiring an additional 23,742 shares in the last quarter. ICONIQ Capital LLC grew its holdings in Kodiak Sciences by 24.6% during the 1st quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company's stock worth $3,559,000 after acquiring an additional 249,699 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Kodiak Sciences by 90.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company's stock worth $1,922,000 after acquiring an additional 324,722 shares in the last quarter. Finally, Nantahala Capital Management LLC grew its holdings in Kodiak Sciences by 11.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 590,884 shares of the company's stock worth $2,204,000 after acquiring an additional 60,171 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.
Kodiak Sciences Company Profile
(
Get Free Report)
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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