FY2023 EPS Estimates for Kodiak Sciences Inc. (NASDAQ:KOD) Cut by Chardan Capital

Kodiak Sciences Inc. (NASDAQ:KOD – Get Rating) – Research analysts at Chardan Capital cut their FY2023 earnings per share (EPS) estimates for Kodiak Sciences in a report released on Tuesday, May 16th. Chardan Capital analyst D. Gataulin now expects that the company will post earnings of ($4.83) per share for the year, down from their prior estimate of ($4.69). The consensus estimate for Kodiak Sciences’ current full-year earnings is ($4.56) per share. Chardan Capital also issued estimates for Kodiak Sciences’ FY2024 earnings at ($2.54) EPS.

Separately, JPMorgan Chase & Co. cut their price objective on Kodiak Sciences from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.86.

Kodiak Sciences Price Performance

Shares of NASDAQ KOD opened at $5.91 on Friday. Kodiak Sciences has a 1-year low of $4.25 and a 1-year high of $12.80. The business has a 50-day moving average of $5.05 and a 200-day moving average of $6.55. The company has a market capitalization of $309.39 million, a price-to-earnings ratio of -1.00 and a beta of 1.76.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds have recently bought and sold shares of KOD. Swiss National Bank increased its holdings in shares of Kodiak Sciences by 7.9% during the first quarter. Swiss National Bank now owns 73,400 shares of the company’s stock worth $567,000 after purchasing an additional 5,400 shares during the period. Bank of Montreal Can bought a new position in shares of Kodiak Sciences during the first quarter worth approximately $169,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Kodiak Sciences during the first quarter worth approximately $1,137,000. MetLife Investment Management LLC increased its holdings in shares of Kodiak Sciences by 55.6% during the first quarter. MetLife Investment Management LLC now owns 18,141 shares of the company’s stock worth $140,000 after purchasing an additional 6,480 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Kodiak Sciences by 20.5% during the first quarter. BlackRock Inc. now owns 3,435,960 shares of the company’s stock worth $26,526,000 after purchasing an additional 584,762 shares during the period. 80.02% of the stock is currently owned by institutional investors and hedge funds.

About Kodiak Sciences

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Kodiak Sciences, Inc is a clinical-stage biopharmaceutical company, which engages in the research, development, and commercialization of therapeutics for retinal diseases. Its product pipeline includes KSI-301 for wet AMD, KSI-301 for diabetic eye disease, KSI-501 for DME and uveitis, KSI-201 for resistant wet AMD, and KSI-401 for dry AMD.