Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Up 19.9% in March

Kodiak Sciences Inc. (NASDAQ:KOD) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 3,190,000 shares, an increase of 19.9% from the March 15th total of 2,660,000 shares. Approximately 6.6% of the company’s shares are sold short. Based on an average daily trading volume, of 382,700 shares, the short-interest ratio is presently 8.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in Kodiak Sciences by 10,982.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,268,509 shares of the company’s stock worth $12,622,000 after purchasing an additional 1,257,063 shares during the last quarter. TCG Crossover Management LLC raised its holdings in Kodiak Sciences by 13.6% in the fourth quarter. TCG Crossover Management LLC now owns 1,145,538 shares of the company’s stock valued at $11,398,000 after acquiring an additional 137,380 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Kodiak Sciences during the 4th quarter valued at $11,338,000. Silverarc Capital Management LLC grew its holdings in Kodiak Sciences by 100.0% during the 4th quarter. Silverarc Capital Management LLC now owns 1,000,000 shares of the company’s stock worth $9,950,000 after acquiring an additional 500,000 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new stake in shares of Kodiak Sciences in the 4th quarter worth about $9,950,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Kodiak Sciences Price Performance

NASDAQ KOD traded up $0.08 on Tuesday, reaching $3.33. The company had a trading volume of 190,209 shares, compared to its average volume of 339,304. Kodiak Sciences has a 1 year low of $1.92 and a 1 year high of $11.60. The firm has a 50-day moving average of $3.37 and a 200-day moving average of $5.40. The firm has a market capitalization of $175.44 million, a PE ratio of -0.94 and a beta of 2.40.

Kodiak Sciences (NASDAQ:KOD) last announced its earnings results on Thursday, March 27th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.06. As a group, sell-side analysts expect that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “neutral” rating and issued a $3.00 target price on shares of Kodiak Sciences in a research note on Monday, March 31st.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor antibody biopolymer that is in Phase IIb/III clinical study to treat wet age-related macular degeneration (AMD), as well as Phase III clinical study for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.