Traders Buy High Volume of Kodiak Sciences Put Options (NASDAQ:KOD)

Key Points

• Traders purchased an unusually large number of put options on Kodiak Sciences—3,472 puts, a 1,256% increase versus the typical daily volume of 256.
• KOD shares surged $14.28 to $37.03 on Thursday with trading volume of 8,297,733 shares versus an average of 820,270, and a 12‑month range of $1.92–$38.95 (market cap ≈ $1.96B).
• Analyst coverage is mixed but leans toward buying—five Buys, two Holds and one Sell—with an average rating of "Moderate Buy" and an average price target of $28.29, though some firms cite higher targets (UBS $50, HC Wainwright $38).

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 3,472 put options on the company. This represents an increase of 1,256% compared to the typical daily volume of 256 put options.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KOD shares. HC Wainwright reiterated a "buy" rating and issued a $38.00 price target on shares of Kodiak Sciences in a research note on Tuesday, February 10th. UBS Group started coverage on shares of Kodiak Sciences in a research report on Wednesday, January 7th. They issued a "buy" rating and a $50.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $28.29.

Hedge Funds Weigh In On Kodiak Sciences

Hedge funds have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP raised its holdings in Kodiak Sciences by 15.1% during the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company's stock worth $556,940,000 after purchasing an additional 2,608,696 shares in the last quarter. Braidwell LP acquired a new position in shares of Kodiak Sciences in the 4th quarter valued at $57,955,000. RTW Investments LP purchased a new position in shares of Kodiak Sciences in the 4th quarter valued at $41,603,000. Janus Henderson Group PLC acquired a new stake in Kodiak Sciences during the 4th quarter worth $27,950,000. Finally, Goldman Sachs Group Inc. raised its stake in Kodiak Sciences by 298.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company's stock worth $36,433,000 after acquiring an additional 976,254 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

Kodiak Sciences Price Performance

Shares of KOD traded up $14.28 during mid-day trading on Thursday, reaching $37.03. The company's stock had a trading volume of 8,297,733 shares, compared to its average volume of 820,270. Kodiak Sciences has a 12-month low of $1.92 and a 12-month high of $38.95. The stock has a market cap of $1.96 billion, a PE ratio of -8.73 and a beta of 2.61. The company's 50 day moving average is $24.69 and its 200 day moving average is $21.49.

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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