Kodiak Sciences (NASDAQ:KOD) Trading Down 6.3% - Should You Sell?

Key Points

• Kodiak Sciences (NASDAQ:KOD) shares declined by 6.3% during trading, reaching a low of $13.55, with a trading volume significantly lower than the usual.
• Analysts have mixed opinions on Kodiak's stock, with a consensus rating of "Hold" and an average price target of $13.20, while 89.06% of the shares are owned by institutional investors.
• The company recently reported an EPS of (-$1.03), which missed analyst expectations, and is currently in Phase IIb/III clinical studies for its lead product candidate addressing retinal diseases.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) traded down 6.3% during mid-day trading on Thursday . The company traded as low as $13.55 and last traded at $13.55. 233,163 shares were traded during trading, a decline of 55% from the average session volume of 514,693 shares. The stock had previously closed at $14.46.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Chardan Capital restated a "neutral" rating and set a $14.00 price objective on shares of Kodiak Sciences in a report on Monday. HC Wainwright boosted their price objective on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Barclays upgraded shares of Kodiak Sciences from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $7.00 to $17.00 in a report on Thursday, September 25th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Kodiak Sciences in a report on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target for the company in a report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $13.20.

Kodiak Sciences Price Performance

The stock's 50-day moving average price is $10.78 and its 200 day moving average price is $6.31. The firm has a market cap of $715.71 million, a P/E ratio of -3.57 and a beta of 2.67.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last announced its quarterly earnings data 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, analysts forecast that Kodiak Sciences Inc. will post -3.45 EPS for the current fiscal year.

Institutional Trading of Kodiak Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in KOD. US Bancorp DE raised its position 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 acquiring an additional 5,276 shares in the last quarter. Vontobel Holding Ltd. bought a new position in Kodiak Sciences during the first quarter worth about $28,000. Headlands Technologies LLC increased its holdings in Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company's stock valued at $30,000 after buying an additional 5,815 shares during the period. Walleye Capital LLC bought a new position in Kodiak Sciences in the 1st quarter valued at about $49,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings 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 buying an additional 2,691 shares during the period. 89.06% of the stock is owned by institutional investors.

Kodiak Sciences Company Profile

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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