Kodiak Sciences (NASDAQ:KOD) Shares Down 5.7% - Should You Sell?

Key Points

• Shares fell 5.7% to about $87.65 in mid-day trading, with volume 42% below the average; the stock remains well above its 50-day and 200-day moving averages.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $104.71, though individual targets range from $66 to $145.
• Kodiak reported a quarterly loss of $1.05 per share, worse than the $0.96 consensus estimate, while insider ownership is substantial at 44.4% and insiders have purchased roughly $157 million of stock over the past 90 days.

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report)'s stock price fell 5.7% during mid-day trading on Wednesday. The stock traded as low as $87.32 and last traded at $87.6450. 666,433 shares changed hands during trading, a decline of 42% from the average daily volume of 1,142,264 shares. The stock had previously closed at $92.97.

Wall Street Analysts Forecast Growth

KOD has been the subject of a number of analyst reports. Wall Street Zen upgraded Kodiak Sciences from a "strong sell" rating to a "sell" rating in a research note on Sunday, October 4th. JPMorgan Chase & Co. upped their price target on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. HC Wainwright raised their price objective on Kodiak Sciences from $96.00 to $126.00 and gave the company a "buy" rating in a research note on Monday, October 12th. Lifesci Capital raised their target price on shares of Kodiak Sciences from $85.00 to $145.00 and gave the stock an "outperform" rating in a report on Monday, September 28th. Finally, Weiss Ratings cut Kodiak Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, October 6th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $104.71.

Kodiak Sciences Price Performance

The company has a market cap of $5.50 billion, a P/E ratio of -20.89 and a beta of 2.03. The business has a 50-day moving average of $55.38 and a two-hundred day moving average of $45.10.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.09). Equities analysts anticipate that Kodiak Sciences Inc. will post -3.97 EPS for the current fiscal year.

Insider Activity at Kodiak Sciences

In related news, Director Bros. Advisors Lp Baker bought 807,840 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was bought at an average cost of $72.57 per share, for a total transaction of $58,624,948.80. Following the purchase, the director directly owned 19,121,134 shares of the company's stock, valued at approximately $1,387,620,694.38. This trade represents a 4.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 1,941,755 shares of company stock valued at $156,986,026. Company insiders own 44.40% of the company's stock.

Institutional Trading of Kodiak Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KOD. Abel Hall LLC acquired a new stake in Kodiak Sciences during the 3rd quarter valued at approximately $423,000. JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of Kodiak Sciences during the 3rd quarter worth about $347,000. Engineers Gate Manager LP grew its holdings in Kodiak Sciences by 145.8% in the second quarter. Engineers Gate Manager LP now owns 29,537 shares of the company's stock valued at $1,151,000 after purchasing an additional 17,520 shares during the period. Squarepoint Ops LLC grew its stake in Kodiak Sciences by 112.6% in the 2nd quarter. Squarepoint Ops LLC now owns 151,098 shares of the company's stock valued at $5,887,000 after acquiring an additional 80,042 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Kodiak Sciences by 6.9% in the second quarter. Arizona State Retirement System now owns 8,533 shares of the company's stock valued at $332,000 after purchasing an additional 554 shares during the period. Institutional investors and hedge funds own 89.06% of the company's stock.

Kodiak Sciences Company Profile

Kodiak Sciences Inc NASDAQ: KOD is a clinical-stage biopharmaceutical company focused on developing treatments for retinal diseases. The company's research centers on therapies designed to address conditions that can cause vision loss, including diabetic macular edema, neovascular age-related macular degeneration and retinal vein occlusion.

Kodiak's proprietary Antibody Biopolymer Conjugate platform is designed to combine the targeting capabilities of antibody-based medicines with a biodegradable polymer intended to extend the duration of treatment in the eye.

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