Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Update

Kodiak Sciences Inc. (NASDAQ:KOD) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totaling 6,287,793 shares, a growth of 34.5% from the December 15th total of 4,674,452 shares. Based on an average daily volume of 1,390,153 shares, the short-interest ratio is currently 4.5 days. Approximately 21.9% of the company’s stock are short sold. Approximately 21.9% of the company’s stock are short sold. Based on an average daily volume of 1,390,153 shares, the short-interest ratio is currently 4.5 days.

Kodiak Sciences Stock Up 1.8%

Shares of KOD stock traded up $0.47 during trading hours on Friday, reaching $27.17. 706,826 shares of the company’s stock were exchanged, compared to its average volume of 991,539. Kodiak Sciences has a fifty-two week low of $1.92 and a fifty-two week high of $31.18. The stock has a market capitalization of $1.44 billion, a P/E ratio of -6.59 and a beta of 2.67. The business has a fifty day moving average price of $24.65 and a 200-day moving average price of $15.65.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.09). As a group, research analysts expect that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Bros. Advisors Lp Baker acquired 2,608,696 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $60,000,008.00. Following the completion of the acquisition, the director owned 18,358,772 shares in the company, valued at approximately $422,251,756. The trade was a 16.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 45.90% of the company’s stock.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in Kodiak Sciences by 89.4% during the third 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 in the last quarter. Diversified Trust Co. bought a new stake in shares of Kodiak Sciences in the 4th quarter worth approximately $219,000. Headlands Technologies LLC lifted its position in shares of Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock worth $30,000 after acquiring an additional 5,815 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Kodiak Sciences during the 3rd quarter worth approximately $204,000. Finally, SG Americas Securities LLC bought a new stake in shares of Kodiak Sciences during the third quarter valued at approximately $228,000. Institutional investors own 89.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KOD shares. Lifesci Capital began coverage on Kodiak Sciences in a research report on Thursday, October 23rd. They issued an “outperform” rating and a $40.00 price target for the company. UBS Group assumed coverage on Kodiak Sciences in a report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Kodiak Sciences from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $15.00 to $24.00 in a research report on Friday, October 24th. Finally, Wall Street Zen cut shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.57.

About Kodiak Sciences

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.