Kodiak Sciences (NASDAQ:KOD) Posts Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Kodiak Sciences (NASDAQ:KOD – Get Rating) announced its quarterly earnings results on Tuesday. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.51) by ($0.32), MarketWatch Earnings reports. During the same quarter in the prior year, the business earned ($0.98) EPS.

Shares of NASDAQ:KOD opened at $5.45 on Wednesday. The company’s 50-day moving average price is $7.21 and its two-hundred day moving average price is $54.04. Kodiak Sciences has a one year low of $5.08 and a one year high of $26.39. The stock has a market capitalization of $283.07 million, a PE ratio of -1.06 and a beta of 1.98.

KOD has been the subject of several research analyst reports. Barclays decreased their price target on shares of Kodiak Sciences from $81.00 to $50.00 and set an “underweight” rating for the company in a report on Monday, February 7th. Truist Financial decreased their price target on shares of Kodiak Sciences from $147.00 to $35.00 in a report on Thursday, February 24th. Roth Capital cut their price objective on shares of Kodiak Sciences from $149.00 to $75.00 in a research report on Monday, February 28th. The Goldman Sachs Group assumed coverage on shares of Kodiak Sciences in a research report on Friday, February 11th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Morgan Stanley cut 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 research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.33.

In other news, CEO Victor Perlroth sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $9.20, for a total transaction of $9,200,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bros. Advisors Lp Baker acquired 300,000 shares of the stock in a transaction dated Thursday, February 17th. The shares were purchased at an average price of $54.56 per share, for a total transaction of $16,368,000.00. The disclosure for this purchase can be found here. Insiders own 39.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in KOD. LPL Financial LLC acquired a new position in shares of Kodiak Sciences during the 3rd quarter worth about $215,000. Swiss National Bank grew its stake in Kodiak Sciences by 7.9% in the 1st quarter. Swiss National Bank now owns 73,400 shares of the company’s stock valued at $567,000 after buying an additional 5,400 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Kodiak Sciences by 387.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,017 shares of the company’s stock valued at $578,000 after buying an additional 4,783 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Kodiak Sciences by 112.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 13,909 shares of the company’s stock valued at $1,179,000 after buying an additional 7,347 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Kodiak Sciences by 13.2% in the 4th quarter. Allianz Asset Management GmbH now owns 22,266 shares of the company’s stock valued at $1,900,000 after buying an additional 2,599 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Kodiak Sciences Company Profile (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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