Kodiak Sciences (NASDAQ:KOD) Shares Up 6.6% – What’s Next?

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) shot up 6.6% on Friday . The company traded as high as $43.94 and last traded at $43.9590. Approximately 68,404 shares changed hands during trading, a decline of 92% from the average session volume of 900,653 shares. The stock had previously closed at $41.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KOD shares. Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $61.00 in a report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research note on Friday, July 10th. UBS Group upped their target price on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Wall Street Zen raised shares of Kodiak Sciences from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Kodiak Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $42.14.

Kodiak Sciences Price Performance

The company has a 50 day simple moving average of $36.74 and a 200-day simple moving average of $32.86. The stock has a market cap of $2.67 billion, a P/E ratio of -10.23 and a beta of 2.19.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). As a group, research analysts expect that Kodiak Sciences Inc. will post -3.89 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KOD. Westfuller Advisors LLC purchased a new position in shares of Kodiak Sciences during the first quarter worth approximately $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Kodiak Sciences in the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Kodiak Sciences by 1,221.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after purchasing an additional 916 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Kodiak Sciences during the 4th quarter valued at $29,000. Finally, Headlands Technologies LLC grew its holdings in shares of Kodiak Sciences by 256.4% during the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after purchasing an additional 5,815 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors.

Kodiak Sciences Company Profile

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.