Kodiak Sciences (NASDAQ:KOD – Get Rating) issued its earnings results on Tuesday. The company reported ($1.74) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.74), Briefing.com reports. During the same period last year, the firm posted ($1.08) earnings per share.
Kodiak Sciences Stock Performance
Shares of NASDAQ KOD traded down $0.19 during midday trading on Tuesday, reaching $10.92. 1,665,930 shares of the company’s stock were exchanged, compared to its average volume of 1,771,260. Kodiak Sciences has a 52-week low of $4.90 and a 52-week high of $26.39. The stock has a market capitalization of $567.34 million, a PE ratio of -1.85 and a beta of 1.89. The business’s fifty day moving average price is $8.68 and its two-hundred day moving average price is $15.58.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Truist Financial lifted their target price on Kodiak Sciences from $10.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on Kodiak Sciences to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley reduced their price objective on Kodiak Sciences from $17.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 12th. Chardan Capital restated a “buy” rating on shares of Kodiak Sciences in a research note on Monday, April 11th. Finally, Citigroup cut Kodiak Sciences from a “neutral” rating to a “sell” rating in a research note on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Kodiak Sciences has an average rating of “Hold” and an average target price of $36.33.
Insider Transactions at Kodiak Sciences
Institutional Trading of Kodiak Sciences
Several hedge funds and other institutional investors have recently bought and sold shares of KOD. Swiss National Bank grew its holdings in shares of Kodiak Sciences by 7.9% during the first quarter. Swiss National Bank now owns 73,400 shares of the company’s stock valued at $567,000 after purchasing an additional 5,400 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Kodiak Sciences during the first quarter valued at approximately $169,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Kodiak Sciences during the first quarter valued at approximately $1,137,000. MetLife Investment Management LLC grew its holdings in shares of Kodiak Sciences by 55.6% during the first quarter. MetLife Investment Management LLC now owns 18,141 shares of the company’s stock valued at $140,000 after purchasing an additional 6,480 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Kodiak Sciences by 20.5% during the first quarter. BlackRock Inc. now owns 3,435,960 shares of the company’s stock valued at $26,526,000 after purchasing an additional 584,762 shares during the last quarter. 69.80% of the stock is owned by institutional investors.
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 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 for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.
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