Kodiak Sciences (NASDAQ:KOD) Shares Down 5.8% – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD) shares traded down 5.8% during mid-day trading on Friday . The stock traded as low as $29.27 and last traded at $29.2750. 145,497 shares changed hands during trading, a decline of 76% from the average session volume of 603,202 shares. The stock had previously closed at $31.08.

Wall Street Analyst Weigh In

A number of research firms recently commented on KOD. Jefferies Financial Group assumed coverage on Kodiak Sciences in a research note on Monday, September 22nd. They issued a “buy” rating and a $15.00 price target for the company. Lifesci Capital started coverage on shares of Kodiak Sciences in a research report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 target price for the company. Chardan Capital reiterated a “neutral” rating and set a $14.00 price target on shares of Kodiak Sciences in a research report on Monday, November 17th. HC Wainwright lifted their price objective on shares of Kodiak Sciences from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $7.00 to $17.00 in a research note on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.67.

Kodiak Sciences Trading Down 3.8%

The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -7.25 and a beta of 2.68. The stock’s 50-day moving average is $21.98 and its 200-day moving average is $13.26.

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

Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker bought 2,608,696 shares of the stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the acquisition, the director directly owned 18,358,772 shares in the company, valued at approximately $422,251,756. This trade represents a 16.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 45.90% of the stock is owned by corporate insiders.

Institutional Trading of Kodiak Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in KOD. Headlands Technologies LLC raised its holdings in Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after buying an additional 5,815 shares during the last quarter. Walleye Capital LLC acquired a new position in Kodiak Sciences in the 1st quarter valued at approximately $49,000. Vanguard Personalized Indexing Management LLC increased its position in Kodiak Sciences by 21.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock valued at $56,000 after acquiring an additional 2,691 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Kodiak Sciences by 729.9% during 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 during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Kodiak Sciences during the first quarter worth $94,000. 89.06% of the stock is currently owned by institutional investors.

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.