Kodiak Sciences (NASDAQ:KOD) Stock Price Up 7.9% – Still a Buy?

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price was up 7.9% during mid-day trading on Wednesday . The stock traded as high as $35.43 and last traded at $35.5350. Approximately 60,533 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 898,928 shares. The stock had previously closed at $32.94.

Analyst Ratings Changes

Several research analysts have recently issued reports on KOD shares. UBS Group raised their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. HC Wainwright reiterated a “buy” rating and set a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Chardan Capital upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $61.00 in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

Kodiak Sciences Stock Up 10.5%

The firm has a 50-day moving average of $39.01 and a two-hundred day moving average of $30.80. The company has a market capitalization of $2.28 billion, a PE ratio of -8.70 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.01). Equities analysts predict that Kodiak Sciences Inc. will post -3.89 EPS for the current fiscal year.

Institutional Trading of Kodiak Sciences

Several institutional investors have recently bought and sold shares of KOD. Baker BROS. Advisors LP grew its holdings in Kodiak Sciences by 15.1% in the fourth quarter. Baker BROS. Advisors LP now owns 19,919,186 shares of the company’s stock valued at $556,940,000 after purchasing an additional 2,608,696 shares during the period. Braidwell LP acquired a new stake in Kodiak Sciences in the fourth quarter valued at approximately $57,955,000. RTW Investments LP acquired a new stake in Kodiak Sciences in the fourth quarter valued at approximately $41,603,000. Janus Henderson Group PLC acquired a new stake in Kodiak Sciences in the fourth quarter valued at approximately $27,950,000. Finally, Goldman Sachs Group Inc. grew its holdings in Kodiak Sciences by 298.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,303,030 shares of the company’s stock valued at $36,433,000 after purchasing an additional 976,254 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.