Kodiak Sciences (NASDAQ:KOD) Stock Price Up 6.7% – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD)’s share price traded up 6.7% during mid-day trading on Thursday . The stock traded as high as $40.15 and last traded at $39.7310. 522,786 shares were traded during trading, a decline of 43% from the average daily volume of 917,104 shares. The stock had previously closed at $37.24.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KOD. Chardan Capital upgraded shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $61.00 in a research report on Monday, May 11th. UBS Group boosted their price target on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Wall Street Zen raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, HC Wainwright restated a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kodiak Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

Kodiak Sciences Price Performance

The firm’s 50-day moving average is $37.67 and its two-hundred day moving average is $31.78. The company has a market cap of $2.47 billion, a P/E ratio of -9.47 and a beta of 2.19.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.01). As a group, sell-side analysts expect that Kodiak Sciences Inc. will post -3.89 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Westfuller Advisors LLC purchased a new position in Kodiak Sciences in the first quarter worth about $26,000. V Square Quantitative Management LLC bought a new stake in Kodiak Sciences during the first quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its stake in Kodiak Sciences by 1,221.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after acquiring an additional 916 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Kodiak Sciences during the fourth quarter valued at approximately $29,000. Finally, Headlands Technologies LLC raised its position in Kodiak Sciences by 256.4% during the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after purchasing an additional 5,815 shares during the period. Institutional investors own 89.06% of the company’s stock.

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.