Kodiak Sciences (NASDAQ:KOD) Trading Down 7.8% - Time to Sell?

Key Points

• Shares of Kodiak Sciences fell 7.8% on Monday to about $34.10, with ~852,125 shares trading (down ~13% versus the 978,176 average daily volume) after a prior close of $37.00.
• Wall Street sentiment is mixed but leaning positive: UBS raised its price target to $80 (buy) and HC Wainwright raised its target to $58 (buy), while the consensus is a “Moderate Buy” with a $35.43 average target and one notable sell from Weiss Ratings.
• Institutional ownership is high at 89.06%; Baker Bros. Advisors holds ~19.9M shares after adding 2.6M, and Kodiak (market cap ~$1.78B) is focused on its lead ophthalmology candidate KSI-301 for retinal diseases.

Shares of Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) were down 7.8% on Monday . The stock traded as low as $34.75 and last traded at $34.1020. Approximately 852,125 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 978,176 shares. The stock had previously closed at $37.00.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KOD shares. UBS Group upped their price objective on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday. HC Wainwright reaffirmed a "buy" rating and issued a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research report on Friday. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.43.

Kodiak Sciences Stock Performance

The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -8.23 and a beta of 2.61. The company has a 50 day moving average price of $25.14 and a two-hundred day moving average price of $21.98.

Institutional Investors Weigh In On Kodiak Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in KOD. Baker BROS. Advisors LP lifted its stake in shares of Kodiak Sciences by 15.1% in the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company's stock worth $556,940,000 after buying an additional 2,608,696 shares in the last quarter. Braidwell LP purchased a new stake in Kodiak Sciences during the 4th quarter valued at about $57,955,000. RTW Investments LP acquired a new stake in Kodiak Sciences in the 4th quarter valued at about $41,603,000. Janus Henderson Group PLC acquired a new stake in Kodiak Sciences in the 4th quarter valued at about $27,950,000. Finally, Goldman Sachs Group Inc. lifted its stake in Kodiak Sciences by 298.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company's stock worth $36,433,000 after purchasing an additional 976,254 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company's stock.

Kodiak Sciences Company Profile

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company's proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak's research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak's pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.

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