Kodiak Sciences (NASDAQ:KOD) Shares Gap Up – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $8.65, but opened at $9.00. Kodiak Sciences shares last traded at $9.55, with a volume of 299,816 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group raised Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, December 9th. HC Wainwright reissued a “neutral” rating and issued a $3.00 price target on shares of Kodiak Sciences in a report on Friday, November 15th. Finally, Barclays boosted their price objective on shares of Kodiak Sciences from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday, November 15th.

Kodiak Sciences Stock Up 6.7 %

The firm has a market capitalization of $519.40 million, a PE ratio of -2.70 and a beta of 2.38. The company has a 50-day moving average of $6.08 and a 200 day moving average of $3.86.

Hedge Funds Weigh In On Kodiak Sciences

A number of institutional investors have recently made changes to their positions in KOD. Panagora Asset Management Inc. bought a new stake in shares of Kodiak Sciences during the 2nd quarter worth $207,000. Acadian Asset Management LLC lifted its stake in Kodiak Sciences by 14.1% during the second quarter. Acadian Asset Management LLC now owns 1,965,449 shares of the company’s stock worth $4,614,000 after purchasing an additional 242,559 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Kodiak Sciences by 18.5% in the 2nd quarter. American Century Companies Inc. now owns 54,323 shares of the company’s stock worth $128,000 after purchasing an additional 8,470 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Kodiak Sciences in the 2nd quarter worth about $36,000. Finally, Renaissance Technologies LLC increased its position in shares of Kodiak Sciences by 21.9% during the 2nd quarter. Renaissance Technologies LLC now owns 708,800 shares of the company’s stock valued at $1,666,000 after purchasing an additional 127,400 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Company Profile

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.