Kodiak Sciences (NASDAQ:KOD) Hits New 12-Month High – Here’s What Happened

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $28.79 and last traded at $28.0510, with a volume of 486344 shares. The stock had previously closed at $24.13.

Analysts Set New Price Targets

KOD has been the subject of a number of analyst reports. Wall Street Zen cut shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Chardan Capital reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Kodiak Sciences in a research note on Monday, November 17th. HC Wainwright upped their price target on Kodiak Sciences from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a report on Wednesday, October 8th. Finally, Jefferies Financial Group began coverage on shares of Kodiak Sciences in a report on Monday, September 22nd. They issued a “buy” rating and a $15.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.67.

Kodiak Sciences Price Performance

The company has a market capitalization of $1.40 billion, a P/E ratio of -6.40 and a beta of 2.68. The stock’s 50 day simple moving average is $20.10 and its two-hundred day simple moving average is $12.16.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Thursday, November 13th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.09). As a group, equities research analysts expect that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Kodiak Sciences by 21.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock valued at $56,000 after purchasing an additional 2,691 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Kodiak Sciences by 89.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock valued at $104,000 after buying an additional 3,009 shares during the last quarter. American Century Companies Inc. raised its position in Kodiak Sciences by 6.3% during the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock worth $297,000 after acquiring an additional 4,703 shares in the last quarter. US Bancorp DE lifted its stake in Kodiak Sciences by 131.7% in the first quarter. US Bancorp DE now owns 9,282 shares of the company’s stock valued at $26,000 after acquiring an additional 5,276 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Kodiak Sciences by 256.4% in 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. 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.