Short Interest in Kodiak Sciences Inc. (NASDAQ:KOD) Rises By 19.9%

Kodiak Sciences Inc. (NASDAQ:KOD) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,190,000 shares, a growth of 19.9% from the March 15th total of 2,660,000 shares. Based on an average trading volume of 382,700 shares, the short-interest ratio is presently 8.3 days. Approximately 6.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “neutral” rating and issued a $3.00 target price on shares of Kodiak Sciences in a research note on Monday, March 31st.

Kodiak Sciences Price Performance

Shares of Kodiak Sciences stock traded up $0.27 during trading hours on Monday, reaching $3.11. The company had a trading volume of 748,397 shares, compared to its average volume of 338,775. The firm has a market cap of $164.05 million, a PE ratio of -0.85 and a beta of 2.40. Kodiak Sciences has a one year low of $1.92 and a one year high of $11.60. The business has a fifty day simple moving average of $3.40 and a 200 day simple moving average of $5.40.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Thursday, March 27th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.06. On average, research analysts forecast that Kodiak Sciences will post -3.45 EPS for the current year.

Hedge Funds Weigh In On Kodiak Sciences

Hedge funds have recently bought and sold shares of the company. State Street Corp grew its position in shares of Kodiak Sciences by 1.8% during the 3rd quarter. State Street Corp now owns 816,634 shares of the company’s stock valued at $2,131,000 after purchasing an additional 14,711 shares in the last quarter. Barclays PLC grew its position in Kodiak Sciences by 65.5% during the third quarter. Barclays PLC now owns 79,658 shares of the company’s stock worth $208,000 after buying an additional 31,527 shares in the last quarter. Geode Capital Management LLC increased its stake in Kodiak Sciences by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 768,740 shares of the company’s stock worth $2,007,000 after acquiring an additional 12,783 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Kodiak Sciences by 220.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 44,648 shares of the company’s stock valued at $117,000 after acquiring an additional 30,735 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Kodiak Sciences by 61.4% during the 4th quarter. SG Americas Securities LLC now owns 20,684 shares of the company’s stock valued at $206,000 after acquiring an additional 7,871 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.