Kodiak Sciences (NASDAQ:KOD) Issues Earnings Results, Misses Expectations By $0.09 EPS

Kodiak Sciences (NASDAQ:KOD) issued its earnings results on Thursday. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.09), FiscalAI reports.

Kodiak Sciences Price Performance

Kodiak Sciences stock traded up $0.64 during trading hours on Friday, hitting $19.51. The company had a trading volume of 684,230 shares, compared to its average volume of 916,419. The firm has a market capitalization of $1.03 billion, a P/E ratio of -4.74 and a beta of 2.88. The firm’s fifty day moving average is $15.15 and its 200-day moving average is $8.96. Kodiak Sciences has a fifty-two week low of $1.92 and a fifty-two week high of $21.17.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Kodiak Sciences in a report on Monday, September 22nd. They set a “buy” rating and a $15.00 price objective on the stock. Chardan Capital reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Kodiak Sciences in a research note on Monday, October 6th. HC Wainwright raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their target price for the stock from $5.00 to $24.00 in a research report on Tuesday. Wall Street Zen downgraded shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.33.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in shares of Kodiak Sciences by 89.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock worth $104,000 after buying an additional 3,009 shares during the period. American Century Companies Inc. lifted its stake in shares of Kodiak Sciences by 6.3% during the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after acquiring an additional 4,703 shares during the period. Headlands Technologies LLC lifted its holdings in Kodiak Sciences by 256.4% in the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after buying an additional 5,815 shares during the period. Bridgeway Capital Management LLC increased its holdings in Kodiak Sciences by 8.2% in the second quarter. Bridgeway Capital Management LLC now owns 101,900 shares of the company’s stock valued at $380,000 after purchasing an additional 7,700 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Kodiak Sciences by 75.2% during the third quarter. Russell Investments Group Ltd. now owns 35,957 shares of the company’s stock valued at $589,000 after purchasing an additional 15,431 shares during the period. Institutional investors and hedge funds 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.