Kodiak Sciences Inc. (NASDAQ:KOD – Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 2,370,000 shares, an increase of 8.7% from the July 31st total of 2,180,000 shares. Based on an average trading volume of 1,240,000 shares, the short-interest ratio is currently 1.9 days. Currently, 4.8% of the shares of the company are sold short.
Analyst Ratings Changes
Several research firms have recently weighed in on KOD. UBS Group downgraded shares of Kodiak Sciences from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $4.00 in a research note on Thursday, July 27th. Chardan Capital downgraded shares of Kodiak Sciences from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 25th. JPMorgan Chase & Co. cut shares of Kodiak Sciences from a “neutral” rating to an “underweight” rating in a research note on Monday, July 24th. Jefferies Financial Group cut shares of Kodiak Sciences from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Capital One Financial cut shares of Kodiak Sciences from an “overweight” rating to an “equal weight” rating and set a $7.00 price objective for the company. in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.33.
Institutional Inflows and Outflows
Kodiak Sciences Trading Down 2.2 %
Shares of NASDAQ KOD opened at $2.20 on Friday. Kodiak Sciences has a 12 month low of $2.18 and a 12 month high of $11.16. The firm has a market capitalization of $115.40 million, a PE ratio of -0.39 and a beta of 1.68. The firm has a fifty day simple moving average of $4.58 and a two-hundred day simple moving average of $5.57.
About Kodiak Sciences
Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (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 Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.
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