Kodiak Sciences Inc. (NASDAQ:KOD) Receives Consensus Rating of "Reduce" from Brokerages

Shares of Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) have earned a consensus recommendation of "Reduce" from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.00.

A number of research analysts have recently commented on the company. UBS Group cut their target price on Kodiak Sciences from $4.00 to $3.00 and set a "neutral" rating on the stock in a research note on Thursday, December 21st. Barclays lifted their price objective on Kodiak Sciences from $2.00 to $3.00 and gave the company an "underweight" rating in a report on Monday. Finally, The Goldman Sachs Group reiterated a "sell" rating and set a $2.00 target price on shares of Kodiak Sciences in a report on Monday, December 11th.

Kodiak Sciences Stock Down 15.4 %

KOD stock traded down $0.81 during midday trading on Monday, hitting $4.45. The company's stock had a trading volume of 1,830,213 shares, compared to its average volume of 898,479. The firm has a market capitalization of $233.49 million, a price-to-earnings ratio of -0.92 and a beta of 2.15. Kodiak Sciences has a 12 month low of $1.37 and a 12 month high of $9.80. The company has a 50 day moving average of $5.37 and a two-hundred day moving average of $3.42.

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors have recently modified their holdings of the company. Point72 Middle East FZE acquired a new stake in shares of Kodiak Sciences in the 4th quarter worth $27,000. Tower Research Capital LLC TRC raised its stake in Kodiak Sciences by 1,173.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 16,994 shares of the company's stock valued at $31,000 after purchasing an additional 15,660 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Kodiak Sciences during the third quarter worth approximately $37,000. American Century Companies Inc. increased its stake in Kodiak Sciences by 41.1% in the third quarter. American Century Companies Inc. now owns 20,654 shares of the company's stock valued at $37,000 after purchasing an additional 6,013 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new position in shares of Kodiak Sciences in the 4th quarter worth $41,000. 89.06% of the stock is owned by institutional investors and hedge funds.

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.