Kodiak Sciences Target of Unusually High Options Trading (NASDAQ:KOD)

Kodiak Sciences Inc. (NASDAQ:KOD) saw some unusual options trading on Friday. Stock investors bought 3,476 call options on the stock. This represents an increase of 572% compared to the typical volume of 517 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Westfuller Advisors LLC bought a new position in Kodiak Sciences in the 1st quarter valued at $26,000. V Square Quantitative Management LLC purchased a new position in shares of Kodiak Sciences in the 1st quarter worth about $26,000. EverSource Wealth Advisors LLC grew its position in Kodiak Sciences by 1,221.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock valued at $28,000 after buying an additional 916 shares during the period. KBC Group NV bought a new position in Kodiak Sciences during the first quarter valued at about $39,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Kodiak Sciences during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Down 1.6%

KOD stock traded down $0.64 during trading on Friday, reaching $39.44. The stock had a trading volume of 302,297 shares, compared to its average volume of 908,398. Kodiak Sciences has a one year low of $4.32 and a one year high of $47.84. The company’s 50 day moving average is $36.91 and its two-hundred day moving average is $32.36. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -9.56 and a beta of 2.19.

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

Wall Street Analysts Forecast Growth

KOD has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th. UBS Group boosted their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a report on Friday, March 27th. Wall Street Zen raised Kodiak Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Chardan Capital raised shares of 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. Six investment analysts have rated the stock with a Buy rating, one has assigned 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 $42.14.

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.