Kodiak Sciences (NASDAQ:KOD) Trading Up 3.7% - Here's What Happened

Key Points

• Shares rose 3.7% to about $40.46 on Tuesday, but volume was light—~81,183 shares traded, roughly 92% below the stock's average daily volume.
• Analysts have been bullish recently: HC Wainwright and UBS raised price targets to $58 and $80 respectively, and the consensus is a Moderate Buy (five Buys, two Holds, one Sell) with an average target of $35.43.
• Kodiak is a clinical‑stage ophthalmic biotech (lead candidate KSI‑301); it reported Q1 EPS of −$1.04, missing estimates by $0.02, and analysts expect about −3.45 EPS for the year while the company carries a ~$2.52B market cap.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) shares were up 3.7% on Tuesday . The company traded as high as $39.97 and last traded at $40.4550. Approximately 81,183 shares traded hands during trading, a decline of 92% from the average daily volume of 1,048,888 shares. The stock had previously closed at $39.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on KOD shares. HC Wainwright reaffirmed a "buy" rating and set a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a report on Friday, March 27th. UBS Group lifted their price target on Kodiak Sciences from $50.00 to $80.00 and gave the company a "buy" rating in a report on Friday, March 27th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Kodiak Sciences currently has an average rating of "Moderate Buy" and an average target price of $35.43.

Kodiak Sciences Price Performance

The stock has a market cap of $2.52 billion, a P/E ratio of -9.43 and a beta of 2.39. The company has a fifty day moving average of $26.64 and a 200 day moving average of $23.23.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.02). As a group, analysts anticipate that Kodiak Sciences Inc. will post -3.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Kodiak Sciences by 1,221.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company's stock valued at $28,000 after buying an additional 916 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Kodiak Sciences in the fourth quarter valued at $29,000. Cerity Partners LLC increased its holdings in shares of Kodiak Sciences by 7.4% in the fourth quarter. Cerity Partners LLC now owns 16,446 shares of the company's stock valued at $460,000 after buying an additional 1,139 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Kodiak Sciences in the fourth quarter valued at $72,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Kodiak Sciences by 89.4% in the third quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company's stock valued at $104,000 after buying an additional 3,009 shares in the last quarter. Institutional investors 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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