Kodiak Sciences (NASDAQ:KOD) Stock Lifted to Hold by Wall Street Zen

Wall Street Zen upgraded shares of Kodiak Sciences (NASDAQ:KOD) from a sell rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 6th. HC Wainwright lifted their price objective on shares of Kodiak Sciences from $96.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. JPMorgan Chase & Co. boosted their target price on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $112.00 price target on shares of Kodiak Sciences in a report on Monday, September 28th. Finally, UBS Group upped their price objective on Kodiak Sciences from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Kodiak Sciences has an average rating of “Moderate Buy” and an average target price of $109.00.

Kodiak Sciences Price Performance

Shares of Kodiak Sciences stock traded up $2.94 during trading hours on Friday, hitting $111.19. 970,804 shares of the company’s stock traded hands, compared to its average volume of 864,388. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -27.25 and a beta of 2.02. Kodiak Sciences has a 12-month low of $18.15 and a 12-month high of $112.79. The company has a fifty day simple moving average of $76.72 and a 200-day simple moving average of $45.75.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($1.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.01. On average, analysts forecast that Kodiak Sciences will post -3.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bros. Advisors Lp Baker bought 807,840 shares of Kodiak Sciences stock in a transaction on Monday, September 28th. The stock was acquired at an average price of $72.57 per share, with a total value of $58,624,948.80. Following the acquisition, the director directly owned 19,121,134 shares of the company’s stock, valued at $1,387,620,694.38. This represents a 4.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 2,188,845 shares of company stock valued at $181,326,862. 44.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently modified their holdings of KOD. Arizona State Retirement System lifted its holdings in shares of Kodiak Sciences by 6.9% during the 2nd quarter. Arizona State Retirement System now owns 8,533 shares of the company’s stock worth $332,000 after acquiring an additional 554 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Kodiak Sciences by 94.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,927 shares of the company’s stock worth $73,000 after acquiring an additional 936 shares in the last quarter. KBC Group NV purchased a new position in Kodiak Sciences in the first quarter worth $39,000. Sterling Capital Management LLC grew its position in Kodiak Sciences by 850.0% in the third quarter. Sterling Capital Management LLC now owns 1,311 shares of the company’s stock worth $124,000 after acquiring an additional 1,173 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Kodiak Sciences by 15.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,468 shares of the company’s stock valued at $1,045,000 after acquiring an additional 1,509 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

Kodiak Sciences Company Profile

Kodiak Sciences is a clinical-stage biopharmaceutical company focused on developing treatments for retinal and other eye diseases. The company’s research centers on therapies designed to address conditions involving damage to the retina and vision loss. Kodiak’s technology platform combines therapeutic antibodies with a biopolymer to create antibody biopolymer conjugates, which are designed to provide sustained treatment effects. Its development programs have included KSI-301, an investigational therapy targeting vascular endothelial growth factor (VEGF) for retinal diseases.