Kodiak Sciences (NASDAQ:KOD) Trading Down 4.8% - Should You Sell?

Key Points

• Kodiak Sciences shares fell 4.8% to $15.04, with trading volume down 9% from the average session.
• Analysts generally rate Kodiak Sciences with a consensus of "Hold" and a target price of $13.00, while some brokerages have recently upgraded their ratings.
• The company reported a loss of ($1.03) earnings per share last quarter, missing the consensus estimate by ($0.02).

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) shares fell 4.8% on Monday . The stock traded as low as $15.37 and last traded at $15.04. 461,124 shares were traded during trading, a decline of 9% from the average session volume of 507,970 shares. The stock had previously closed at $15.80.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KOD. Wall Street Zen upgraded shares of Kodiak Sciences from a "sell" rating to a "hold" rating in a research report on Friday. JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 target price on the stock in a research report on Thursday, August 14th. Jefferies Financial Group began coverage on shares of Kodiak Sciences in a research report on Monday, September 22nd. They set a "buy" rating and a $15.00 target price on the stock. HC Wainwright upped their target price on shares of Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Finally, Barclays raised shares of Kodiak Sciences from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $7.00 to $17.00 in a report on Thursday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Kodiak Sciences currently has a consensus rating of "Hold" and a consensus target price of $13.00.

Kodiak Sciences Stock Up 0.1%

The firm has a market cap of $835.08 million, a PE ratio of -4.16 and a beta of 2.44. The firm's 50 day moving average is $9.41 and its 200-day moving average is $5.63.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its earnings results 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 forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KOD. US Bancorp DE boosted its stake in Kodiak Sciences by 131.7% during the 1st quarter. US Bancorp DE now owns 9,282 shares of the company's stock valued at $26,000 after acquiring an additional 5,276 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Kodiak Sciences in the 1st quarter worth about $28,000. Headlands Technologies LLC lifted its position in shares of Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock worth $30,000 after buying an additional 5,815 shares during the last quarter. Walleye Capital LLC bought a new stake in Kodiak Sciences in the 1st quarter valued at about $49,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Kodiak Sciences by 21.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company's stock valued at $56,000 after purchasing an additional 2,691 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company's stock.

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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