Kodiak Sciences Inc. (NYSE:KOD) rose 5.7% on Wednesday . The company traded as high as $15.72 and last traded at $15.51, approximately 166,678 shares changed hands during trading. An increase of 29% from the average daily volume of 129,206 shares. The stock had previously closed at $14.67.

KOD has been the subject of a number of research analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $22.50 target price on shares of Kodiak Sciences in a research report on Thursday, June 13th. Zacks Investment Research lowered Kodiak Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $17.50.

The stock has a 50-day simple moving average of $13.47 and a two-hundred day simple moving average of $10.89.

Kodiak Sciences (NYSE:KOD) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.02).

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Kodiak Sciences in the 2nd quarter worth $122,000. SG Americas Securities LLC bought a new position in shares of Kodiak Sciences in the 1st quarter worth $66,000. Marshall Wace LLP raised its position in shares of Kodiak Sciences by 146.9% in the 2nd quarter. Marshall Wace LLP now owns 97,764 shares of the company’s stock worth $1,144,000 after acquiring an additional 58,173 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Kodiak Sciences in the 2nd quarter worth $1,418,000. Finally, Summit Trail Advisors LLC bought a new position in shares of Kodiak Sciences in the 2nd quarter worth $211,000.

About Kodiak Sciences (NYSE:KOD)

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, provides novel therapeutics to treat ophthalmic diseases. The company's lead product candidate is KSI-301, a vascular endothelial growth factor (VEGF)-biologic that is in Phase I clinical study to treat wet age-related macular degeneration (AMD) and diabetic retinopathy.

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