Kodiak Sciences (NASDAQ:KOD) Stock Price Down 5.4% - Here's What Happened

Key Points

• Kodiak Sciences' shares fell by 5.4% during trading, reaching a low of $9.44, with a total trading volume significantly lower than average.
• Analysts have mixed views on Kodiak Sciences, with targets ranging from $5.00 to $15.00, and an average target price of $11.75.
• The company reported a loss of $1.03 EPS for the last quarter, missing analysts' expectations, as it continues to develop therapeutics for retinal diseases.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report)'s stock price was down 5.4% on Friday . The stock traded as low as $9.44 and last traded at $9.38. Approximately 81,681 shares were traded during trading, a decline of 82% from the average daily volume of 449,124 shares. The stock had previously closed at $9.92.

Analyst Ratings Changes

Several analysts have weighed in on KOD shares. JPMorgan Chase & Co. raised 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. Barclays boosted their target price on shares of Kodiak Sciences from $4.00 to $7.00 and gave the stock an "underweight" rating in a research report on Thursday, August 14th. Finally, 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 report on Monday, August 18th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.75.

Kodiak Sciences Trading Down 1.3%

The firm's fifty day moving average price is $8.10 and its 200 day moving average price is $5.10. The firm has a market capitalization of $486.47 million, a PE ratio of -2.42 and a beta of 2.45.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.02). On average, analysts predict that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.

Institutional Trading of Kodiak Sciences

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Kodiak Sciences by 131.7% during the first quarter. US Bancorp DE now owns 9,282 shares of the company's stock worth $26,000 after buying an additional 5,276 shares in the last quarter. Vontobel Holding Ltd. purchased a new stake in Kodiak Sciences during the first quarter worth $28,000. Headlands Technologies LLC boosted its holdings in Kodiak Sciences by 256.4% during the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock worth $30,000 after buying an additional 5,815 shares in the last quarter. Walleye Capital LLC purchased a new stake in Kodiak Sciences during the first quarter worth $49,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in Kodiak Sciences by 21.7% during the second 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 during the period. 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.