Kodiak Sciences (NASDAQ:KOD) Hits New 52-Week High – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD) shares 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

A number of equities research analysts recently weighed in on the company. Wall Street Zen lowered Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $7.00 to $17.00 in a report on Thursday, September 25th. Lifesci Capital started coverage on shares of Kodiak Sciences in a research report on Thursday, October 23rd. They set an “outperform” rating and a $40.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Wednesday, October 8th. Finally, HC Wainwright lifted their price target on shares of Kodiak Sciences from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Kodiak Sciences has a consensus rating of “Hold” and a consensus target price of $22.67.

Kodiak Sciences Trading Up 10.0%

The stock’s 50-day moving average price is $20.72 and its 200-day moving average price is $12.60. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -6.94 and a beta of 2.68.

Kodiak Sciences (NASDAQ:KOD) last announced 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). As a group, analysts predict that Kodiak Sciences Inc. will post -3.45 earnings per share for the current year.

Insider Activity

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker bought 2,608,696 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average price of $23.00 per share, for a total transaction of $60,000,008.00. Following the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 45.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kodiak Sciences

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in shares of Kodiak Sciences by 89.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock worth $104,000 after buying an additional 3,009 shares during the period. Headlands Technologies LLC increased its stake in Kodiak Sciences by 256.4% in the second 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 in the last quarter. Fox Run Management L.L.C. bought a new stake in Kodiak Sciences in the third quarter valued at $204,000. SG Americas Securities LLC bought a new position in shares of Kodiak Sciences during the 3rd quarter worth about $228,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of 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 buying an additional 2,691 shares during the period. 89.06% of the stock is owned by institutional investors and hedge funds.

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.