Kodiak Sciences (NASDAQ:KOD) Stock Rating Lowered by Wall Street Zen

Key Points

• Kodiak Sciences has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling increased concerns about the stock's performance.
• The stock recently experienced a 12.4% decline, reaching $11.87 per share, significantly down from its twelve-month high of $19.39.
• Analysts have mixed views, with one buy rating, four hold ratings, and one sell rating, resulting in an average rating of "hold" and a consensus price target of $13.20.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

KOD has been the subject of several other research reports. Jefferies Financial Group initiated coverage on shares of Kodiak Sciences in a research report on Monday, September 22nd. They issued a "buy" rating and a $15.00 price target for the company. Barclays raised shares of Kodiak Sciences from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $7.00 to $17.00 in a research report on Thursday, September 25th. HC Wainwright lifted their price target on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. raised shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target for the company in a research report on Thursday, August 14th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Kodiak Sciences in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $13.20.

Kodiak Sciences Stock Down 12.4%

NASDAQ:KOD opened at $11.87 on Friday. The company has a fifty day moving average of $10.89 and a 200-day moving average of $6.37. The firm has a market capitalization of $626.97 million, a P/E ratio of -3.12 and a beta of 2.67. Kodiak Sciences has a twelve month low of $1.92 and a twelve month high of $19.39.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its quarterly earnings data 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 will post -3.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds have recently bought and sold shares of KOD. Adage Capital Partners GP L.L.C. boosted 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 during the last quarter. Acadian Asset Management LLC boosted its holdings in Kodiak Sciences by 27.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company's stock worth $5,454,000 after acquiring an additional 413,821 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted 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 during the last quarter. Nantahala Capital Management LLC boosted its holdings in Kodiak Sciences by 99.1% during the 1st quarter. Nantahala Capital Management LLC now owns 530,713 shares of the company's stock worth $1,489,000 after acquiring an additional 264,100 shares during the last quarter. Finally, ICONIQ Capital LLC boosted 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 during the last quarter. 89.06% of the stock is owned by hedge funds and other 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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