Kodiak Sciences (NASDAQ:KOD) Stock Price Up 6.7% – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price rose 6.7% during trading on Tuesday . The company traded as high as $9.88 and last traded at $9.87. Approximately 253,545 shares changed hands during trading, a decline of 47% from the average daily volume of 477,613 shares. The stock had previously closed at $9.25.

Analyst Upgrades and Downgrades

Several analysts recently commented on KOD shares. HC Wainwright reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Kodiak Sciences in a research note on Friday, November 15th. Jefferies Financial Group raised shares of Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, December 9th. Finally, Barclays lifted their price target on shares of Kodiak Sciences from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Friday, November 15th.

Kodiak Sciences Price Performance

The company has a market capitalization of $519.40 million, a price-to-earnings ratio of -2.70 and a beta of 2.38. The stock has a 50 day moving average price of $5.94 and a two-hundred day moving average price of $3.81.

Institutional Trading of Kodiak Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Kodiak Sciences in the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. bought a new position in Kodiak Sciences in the second quarter valued at approximately $36,000. Sanctuary Advisors LLC acquired a new stake in Kodiak Sciences during the 2nd quarter worth $36,000. LJI Wealth Management LLC raised its position in shares of Kodiak Sciences by 21.3% during the 3rd quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock valued at $45,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Kodiak Sciences in the 2nd quarter valued at $127,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

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.