Shares of Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) dropped 5.4% during trading on Friday . The company 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.
Wall Street Analysts Forecast Growth
KOD has been the subject of a number of analyst reports. 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. JPMorgan Chase & Co. raised 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. Finally, HC Wainwright upped their price objective on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $11.75.
Get Our Latest Report on Kodiak Sciences
Kodiak Sciences Price Performance
The business has a 50 day simple moving average of $7.77 and a 200 day simple moving average of $4.98. The stock has a market cap of $478.71 million, a PE ratio of -2.38 and a beta of 2.45.
Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.02). As a group, sell-side analysts forecast that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Kodiak Sciences
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. raised its holdings in shares of 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 valued at $7,668,000 after purchasing an additional 730,000 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Kodiak Sciences during the 4th quarter valued at $5,211,000. Acadian Asset Management LLC raised its holdings in shares of Kodiak Sciences by 27.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company's stock valued at $5,454,000 after purchasing an additional 413,821 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Kodiak Sciences by 90.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company's stock valued at $1,922,000 after purchasing an additional 324,722 shares in the last quarter. Finally, Nantahala Capital Management LLC raised its holdings in shares of Kodiak Sciences by 99.1% during the 1st quarter. Nantahala Capital Management LLC now owns 530,713 shares of the company's stock valued at $1,489,000 after purchasing an additional 264,100 shares in the last quarter. Institutional investors own 89.06% of the company's stock.
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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