Kodiak Sciences (NASDAQ:KOD) Hits New 12-Month High – Here’s What Happened

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $29.49 and last traded at $28.61, with a volume of 1282200 shares changing hands. The stock had previously closed at $26.00.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Lifesci Capital started coverage on Kodiak Sciences in a research note on Thursday, October 23rd. They set an “outperform” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. raised Kodiak Sciences from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $15.00 to $24.00 in a research report on Friday, October 24th. HC Wainwright increased their price target on Kodiak Sciences from $24.00 to $26.00 and gave the company a “buy” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Wednesday, October 8th. Finally, Barclays upgraded shares of Kodiak Sciences from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $7.00 to $17.00 in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Kodiak Sciences currently has an average rating of “Hold” and an average price target of $22.67.

Kodiak Sciences Trading Up 13.1%

The company has a 50-day simple moving average of $21.34 and a 200 day simple moving average of $12.89. The company has a market cap of $1.65 billion, a P/E ratio of -7.53 and a beta of 2.68.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Thursday, November 13th. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.09). On average, equities analysts forecast that Kodiak Sciences Inc. will post -3.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bros. Advisors Lp Baker bought 2,608,696 shares of Kodiak Sciences stock in a transaction dated Thursday, December 18th. The shares were acquired at an average cost of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the transaction, the director owned 18,358,772 shares in the company, valued at $422,251,756. The trade was a 16.56% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 45.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG raised its position in Kodiak Sciences by 8.9% during the 1st quarter. Deutsche Bank AG now owns 73,564 shares of the company’s stock valued at $207,000 after purchasing an additional 6,018 shares in the last quarter. Nuveen LLC purchased a new position in shares of Kodiak Sciences during the first quarter valued at $392,000. Russell Investments Group Ltd. raised its holdings in shares of Kodiak Sciences by 729.9% in the first quarter. Russell Investments Group Ltd. now owns 21,039 shares of the company’s stock valued at $59,000 after acquiring an additional 18,504 shares in the last quarter. American Century Companies Inc. lifted its stake in Kodiak Sciences by 25.1% in the first quarter. American Century Companies Inc. now owns 75,042 shares of the company’s stock worth $210,000 after acquiring an additional 15,075 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Kodiak Sciences by 43.5% during the 1st quarter. Hsbc Holdings PLC now owns 41,569 shares of the company’s stock worth $114,000 after acquiring an additional 12,602 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company’s proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak’s research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak’s pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.