Shares of Kodiak Sciences Inc. (NASDAQ:KOD) gapped up prior to trading on Thursday . The stock had previously closed at $107.46, but opened at $111.46. Kodiak Sciences shares last traded at $111.53, with a volume of 1,280 shares trading hands.
KOD has been the subject of several analyst reports. Smith Barney Citigroup initiated coverage on shares of Kodiak Sciences in a research note on Friday, December 11th. They issued a “neutral” rating and a $134.00 target price for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on shares of Kodiak Sciences in a research note on Friday, December 11th. They set a “neutral” rating and a $134.00 price objective for the company. Zacks Investment Research downgraded shares of Kodiak Sciences from a “hold” rating to a “sell” rating and set a $153.00 price objective for the company. in a research note on Wednesday, January 27th. BMO Capital Markets dropped their price objective on shares of Kodiak Sciences from $148.00 to $138.00 and set a “market perform” rating for the company in a research note on Tuesday, March 2nd. Finally, Berenberg Bank started coverage on shares of Kodiak Sciences in a research note on Thursday, December 17th. They set a “buy” rating and a $156.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $131.83.
The firm has a market cap of $5.83 billion, a PE ratio of -48.90 and a beta of 1.42. The stock has a fifty day moving average price of $123.42 and a 200-day moving average price of $135.18.
Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Sunday, February 28th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.80) by ($0.17). As a group, sell-side analysts forecast that Kodiak Sciences Inc. will post -2.8 EPS for the current year.
In other news, insider Jason Ehrlich sold 26,950 shares of the stock in a transaction that occurred on Wednesday, January 20th. The stock was sold at an average price of $162.77, for a total transaction of $4,386,651.50. Following the completion of the transaction, the insider now directly owns 77,293 shares in the company, valued at approximately $12,580,981.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 39.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Capital Asset Advisory Services LLC acquired a new stake in Kodiak Sciences in the fourth quarter worth $34,000. Marshall Wace North America L.P. acquired a new position in shares of Kodiak Sciences during the first quarter valued at $73,000. Penserra Capital Management LLC increased its holdings in shares of Kodiak Sciences by 205.0% during the fourth quarter. Penserra Capital Management LLC now owns 1,165 shares of the company’s stock valued at $171,000 after purchasing an additional 783 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Kodiak Sciences during the third quarter valued at $204,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Kodiak Sciences during the fourth quarter valued at $207,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.
Kodiak Sciences Company Profile (NASDAQ:KOD)
Kodiak Sciences Inc, a clinical stage biopharmaceutical company, provides novel therapeutics to treat retinal diseases. The company's lead product candidate is KSI-301, a vascular endothelial growth factor (VEGF)-biological agent that is in Phase 1b clinical study to treat wet age-related macular degeneration (AMD) and diabetic retinopathy.
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