Kodiak Sciences (NASDAQ:KOD) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Kodiak Sciences (NASDAQ:KOD) from a hold rating to a sell rating in a report issued on Saturday morning.

KOD has been the topic of a number of other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Wednesday, October 8th. Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $7.00 to $17.00 in a research note on Thursday, September 25th. HC Wainwright boosted their target price on Kodiak Sciences from $3.00 to $5.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Chardan Capital restated a “neutral” rating and issued a $14.00 target price on shares of Kodiak Sciences in a research note on Monday, October 6th. Finally, Jefferies Financial Group assumed coverage on shares of Kodiak Sciences in a report on Monday, September 22nd. They issued a “buy” rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.20.

Kodiak Sciences Stock Down 2.3%

Shares of NASDAQ KOD opened at $11.60 on Friday. Kodiak Sciences has a twelve month low of $1.92 and a twelve month high of $19.39. The stock’s 50 day moving average price is $10.97 and its 200-day moving average price is $6.47. The company has a market capitalization of $612.71 million, a PE ratio of -3.05 and a beta of 2.67.

Kodiak Sciences (NASDAQ:KOD) last announced its earnings results on Wednesday, August 13th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.02). As a group, research analysts expect that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

Hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its holdings in shares of Kodiak Sciences by 131.7% in the 1st quarter. US Bancorp DE now owns 9,282 shares of the company’s stock worth $26,000 after purchasing an additional 5,276 shares during the period. Vontobel Holding Ltd. bought a new stake in Kodiak Sciences during the 1st quarter valued at $28,000. Headlands Technologies LLC raised its holdings in Kodiak Sciences by 256.4% during the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after acquiring an additional 5,815 shares during the period. Walleye Capital LLC bought a new stake in Kodiak Sciences during the 1st quarter valued at $49,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Kodiak Sciences by 21.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock valued at $56,000 after acquiring an additional 2,691 shares during the period. 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.