Kodiak Sciences Inc. (KOD) – What Are Researchers Thinking About This Stock?

Kodiak Sciences Inc. (NASDAQ:KOD) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $104.71.

KOD has been the topic of several recent research reports. Weiss Ratings lowered Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $112.00 price objective on shares of Kodiak Sciences in a research note on Monday, September 28th. JPMorgan Chase & Co. upped their price objective on Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. UBS Group raised their price objective on shares of Kodiak Sciences from $80.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $103.00 price objective on shares of Kodiak Sciences in a research report on Wednesday, September 30th.

Insider Activity at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker bought 807,840 shares of the stock in a transaction dated Monday, September 28th. The shares were bought at an average price of $72.57 per share, for a total transaction of $58,624,948.80. Following the completion of the purchase, the director owned 19,121,134 shares in the company, valued at approximately $1,387,620,694.38. This trade represents a 4.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 1,941,755 shares of company stock valued at $156,986,026 over the last 90 days. 44.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Kodiak Sciences

Institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP increased its position in Kodiak Sciences by 145.8% during the 2nd quarter. Engineers Gate Manager LP now owns 29,537 shares of the company’s stock worth $1,151,000 after buying an additional 17,520 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Kodiak Sciences by 112.6% during the second quarter. Squarepoint Ops LLC now owns 151,098 shares of the company’s stock worth $5,887,000 after buying an additional 80,042 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Kodiak Sciences by 6.9% in the second quarter. Arizona State Retirement System now owns 8,533 shares of the company’s stock valued at $332,000 after acquiring an additional 554 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Kodiak Sciences in the second quarter valued at about $232,000. Finally, Wellington Management Group LLP boosted its position in shares of Kodiak Sciences by 81.9% in the second quarter. Wellington Management Group LLP now owns 793,613 shares of the company’s stock valued at $30,919,000 after acquiring an additional 357,284 shares during the period. 89.06% of the stock is currently owned by institutional investors.

Kodiak Sciences Price Performance

Shares of NASDAQ KOD opened at $99.26 on Tuesday. Kodiak Sciences has a fifty-two week low of $10.94 and a fifty-two week high of $104.00. The firm has a market capitalization of $6.24 billion, a P/E ratio of -23.69 and a beta of 2.03. The company’s 50 day simple moving average is $50.02 and its 200 day simple moving average is $42.87.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Thursday, August 13th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). Sell-side analysts expect that Kodiak Sciences will post -3.97 EPS for the current fiscal year.

About Kodiak Sciences

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing medicines for serious retinal diseases. The company’s research is centered on its Antibody Biopolymer Conjugate (ABC) platform, which is designed to combine antibody-based therapies with biopolymer technology to potentially extend the duration of treatment in the eye.

Kodiak’s lead programs have focused on ophthalmic diseases involving abnormal blood-vessel growth or leakage, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.