Kodiak Sciences (NASDAQ:KOD) Trading Up 6.3% - Should You Buy?

Key Points

• Kodiak Sciences Inc. shares rose by 6.3% to $18.81, despite a decline in trading volume compared to the average session.
• Analyst ratings have varied, with Barclays upgrading the stock to "equal weight" and setting a new price target of $17.00, while Weiss Ratings maintained a "sell" rating.
• The company's market capitalization is $979.23 million, but it reported a loss of ($1.03) earnings per share for the last quarter, missing expectations.

Shares of Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) shot up 6.3% during trading on Tuesday . The stock traded as high as $18.78 and last traded at $18.81. 393,763 shares traded hands during trading, a decline of 27% from the average session volume of 542,279 shares. The stock had previously closed at $17.70.

Analyst Upgrades and Downgrades

KOD has been the subject of a number of research analyst reports. Barclays raised Kodiak Sciences from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $7.00 to $17.00 in a report on Thursday, September 25th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kodiak Sciences in a report on Wednesday, October 8th. Chardan Capital reissued a "neutral" rating and set a $14.00 price objective on shares of Kodiak Sciences in a research note on Monday, October 6th. JPMorgan Chase & Co. upgraded Kodiak Sciences from an "underweight" rating to a "neutral" rating and set a $15.00 price target on the stock in a report on Thursday, August 14th. Finally, HC Wainwright upped their target price on Kodiak Sciences from $3.00 to $5.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.20.

Kodiak Sciences Stock Up 4.7%

The firm has a market capitalization of $979.23 million, a price-to-earnings ratio of -4.94 and a beta of 2.67. The company's 50 day moving average price is $11.65 and its 200 day moving average price is $6.90.

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

Hedge Funds Weigh In On Kodiak Sciences

Large investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. grew its stake in shares of Kodiak Sciences by 55.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company's stock worth $7,668,000 after purchasing an additional 730,000 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Kodiak Sciences by 27.0% in the first quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company's stock worth $5,454,000 after buying an additional 413,821 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Kodiak Sciences by 90.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company's stock worth $1,922,000 after buying an additional 324,722 shares during the period. Nantahala Capital Management LLC boosted its holdings in shares of Kodiak Sciences by 99.1% in the first quarter. Nantahala Capital Management LLC now owns 530,713 shares of the company's stock worth $1,489,000 after buying an additional 264,100 shares during the period. Finally, ICONIQ Capital LLC boosted its holdings in shares of Kodiak Sciences by 24.6% in the first quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company's stock worth $3,559,000 after buying an additional 249,699 shares during the period. Institutional investors and hedge funds own 89.06% of the company's stock.

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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