Kodiak Sciences (NASDAQ:KOD) Shares Down 5.9% – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price dropped 5.9% on Friday . The stock traded as low as $25.32 and last traded at $25.1010. Approximately 60,109 shares changed hands during trading, a decline of 92% from the average daily volume of 725,091 shares. The stock had previously closed at $26.67.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KOD shares. UBS Group assumed coverage on Kodiak Sciences in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target for the company. Chardan Capital reiterated a “neutral” rating and set a $14.00 target price on shares of Kodiak Sciences in a research note on Monday, November 17th. HC Wainwright reissued a “buy” rating and issued a $38.00 price target on shares of Kodiak Sciences in a report on Tuesday, February 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.29.

Kodiak Sciences Trading Down 5.2%

The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -6.14 and a beta of 2.64. The firm has a fifty day moving average price of $25.86 and a 200 day moving average price of $18.98.

Insider Buying and Selling at Kodiak Sciences

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average cost of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the acquisition, the director directly owned 18,358,772 shares of the company’s stock, valued at $422,251,756. This represents a 16.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 45.90% of the company’s stock.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP lifted its position in shares of Kodiak Sciences by 15.1% during the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock worth $556,940,000 after purchasing an additional 2,608,696 shares in the last quarter. Braidwell LP bought a new position in Kodiak Sciences in the 4th quarter worth approximately $57,955,000. RTW Investments LP acquired a new position in Kodiak Sciences during the 4th quarter worth $41,603,000. Janus Henderson Group PLC acquired a new position in Kodiak Sciences during the 4th quarter worth $27,950,000. Finally, Goldman Sachs Group Inc. boosted its position in Kodiak Sciences by 298.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock valued at $36,433,000 after buying an additional 976,254 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.