Kodiak Sciences (NASDAQ:KOD) Given New $3.00 Price Target at Barclays

Kodiak Sciences (NASDAQ:KOD - Free Report) had its price objective boosted by Barclays from $2.00 to $3.00 in a report issued on Monday morning, Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. UBS Group decreased their target price on shares of Kodiak Sciences from $4.00 to $3.00 and set a neutral rating for the company in a research note on Thursday, December 21st. The Goldman Sachs Group reiterated a sell rating and set a $2.00 target price on shares of Kodiak Sciences in a research note on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $6.00.

Kodiak Sciences Stock Down 15.4 %

Shares of KOD traded down $0.81 during trading hours on Monday, hitting $4.45. The company had a trading volume of 1,830,213 shares, compared to its average volume of 898,479. Kodiak Sciences has a 52-week low of $1.37 and a 52-week high of $9.80. The firm has a market cap of $233.49 million, a P/E ratio of -0.92 and a beta of 2.15. The stock's 50 day moving average price is $5.37 and its 200 day moving average price is $3.42.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Kodiak Sciences by 2.1% in the 2nd quarter. BlackRock Inc. now owns 4,507,439 shares of the company's stock worth $31,101,000 after buying an additional 91,551 shares during the period. Newtyn Management LLC boosted its holdings in shares of Kodiak Sciences by 10.1% during the 4th quarter. Newtyn Management LLC now owns 1,771,241 shares of the company's stock valued at $5,385,000 after purchasing an additional 162,547 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kodiak Sciences by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,646,083 shares of the company's stock valued at $12,741,000 after purchasing an additional 53,125 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Kodiak Sciences by 253.6% during the 3rd quarter. Acadian Asset Management LLC now owns 1,636,621 shares of the company's stock valued at $2,945,000 after purchasing an additional 1,173,832 shares during the last quarter. Finally, Silverarc Capital Management LLC bought a new position in shares of Kodiak Sciences during the 3rd quarter valued at about $2,006,000. Institutional investors own 89.06% of the company's stock.

About Kodiak Sciences

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.