Kodiak Sciences Inc. (NASDAQ:KOD) Receives $45.89 Average Price Target from Brokerages

Kodiak Sciences Inc. (NASDAQ:KODGet Rating) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $42.56.

KOD has been the subject of a number of research analyst reports. Barclays decreased their target price on Kodiak Sciences from $81.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, February 7th. Truist Financial reduced their price target on shares of Kodiak Sciences from $35.00 to $10.00 in a report on Wednesday. Morgan Stanley dropped their price objective on shares of Kodiak Sciences from $17.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered shares of Kodiak Sciences from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $90.00 to $21.00 in a research note on Thursday, February 24th. Finally, The Goldman Sachs Group initiated coverage on Kodiak Sciences in a report on Friday, February 11th. They issued a “buy” rating and a $70.00 price target on the stock.

Kodiak Sciences stock opened at $6.96 on Friday. The firm has a market capitalization of $361.47 million, a P/E ratio of -1.35 and a beta of 1.92. The business has a 50-day moving average of $21.99 and a 200-day moving average of $67.52. Kodiak Sciences has a 1 year low of $6.81 and a 1 year high of $26.39.

In related news, Director Bros. Advisors Lp Baker bought 5,800 shares of Kodiak Sciences stock in a transaction that occurred on Tuesday, February 15th. The stock was acquired at an average price of $54.16 per share, with a total value of $314,128.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Victor Perlroth sold 1,000,000 shares of the business’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $9.20, for a total value of $9,200,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have bought 1,093,818 shares of company stock worth $60,465,648. Company insiders own 39.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new stake in Kodiak Sciences during the 1st quarter valued at approximately $258,000. Marshall Wace North America L.P. bought a new position in shares of Kodiak Sciences during the 1st quarter worth about $73,000. Morgan Stanley grew its stake in Kodiak Sciences by 132.0% in the second quarter. Morgan Stanley now owns 276,550 shares of the company’s stock valued at $25,719,000 after acquiring an additional 157,325 shares during the period. Parametric Portfolio Associates LLC grew its position in Kodiak Sciences by 5.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 21,773 shares of the company’s stock valued at $2,025,000 after purchasing an additional 1,120 shares during the period. Finally, Virginia Retirement Systems ET AL increased its position in shares of Kodiak Sciences by 8.6% during the third quarter. Virginia Retirement Systems ET AL now owns 3,800 shares of the company’s stock worth $365,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 87.85% of the company’s stock.

About Kodiak Sciences (Get Rating)

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is 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 for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.

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