Codiak BioSciences (NASDAQ:CDAK) Releases Earnings Results, Beats Expectations By $0.47 EPS

Codiak BioSciences (NASDAQ:CDAKGet Rating) issued its quarterly earnings data on Thursday. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.47, MarketWatch Earnings reports. Codiak BioSciences had a negative net margin of 162.01% and a negative return on equity of 135.41%.

CDAK stock traded down $0.20 during mid-day trading on Friday, hitting $2.89. The company had a trading volume of 47,188 shares, compared to its average volume of 151,454. Codiak BioSciences has a 12-month low of $2.82 and a 12-month high of $27.09. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $4.85 and a 200 day moving average price of $8.56.

Several research analysts recently weighed in on CDAK shares. Zacks Investment Research downgraded shares of Codiak BioSciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. The Goldman Sachs Group started coverage on shares of Codiak BioSciences in a report on Friday, February 11th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Wedbush dropped their target price on shares of Codiak BioSciences from $34.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, February 22nd.

A number of hedge funds have recently made changes to their positions in CDAK. BlackRock Inc. lifted its stake in Codiak BioSciences by 13.2% in the 4th quarter. BlackRock Inc. now owns 1,048,811 shares of the company’s stock worth $11,684,000 after purchasing an additional 122,632 shares in the last quarter. State Street Corp lifted its stake in Codiak BioSciences by 10.1% in the 4th quarter. State Street Corp now owns 294,282 shares of the company’s stock worth $3,278,000 after purchasing an additional 27,047 shares in the last quarter. Geode Capital Management LLC lifted its stake in Codiak BioSciences by 10.7% in the 4th quarter. Geode Capital Management LLC now owns 254,534 shares of the company’s stock worth $2,835,000 after purchasing an additional 24,593 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Codiak BioSciences by 16.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 36,637 shares of the company’s stock worth $598,000 after purchasing an additional 5,233 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Codiak BioSciences by 15.0% in the 3rd quarter. Morgan Stanley now owns 32,447 shares of the company’s stock worth $529,000 after purchasing an additional 4,229 shares in the last quarter. Institutional investors and hedge funds own 59.80% of the company’s stock.

Codiak BioSciences Company Profile (Get Rating)

Codiak BioSciences, Inc, a clinical-stage biopharmaceutical company, focuses on developing exosome-based therapeutics for the treatment of oncology, neuro-oncology, neurology, neuromuscular diseases, infectious diseases, and other diseases. Its lead product candidates are exoSTING and exoIL-12 exosome therapeutic candidates for the treatment of various solid tumors.

Further Reading

Earnings History for Codiak BioSciences (NASDAQ:CDAK)

Receive News & Ratings for Codiak BioSciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Codiak BioSciences and related companies with MarketBeat.com's FREE daily email newsletter.