Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Up 8.1% in December

Kodiak Sciences Inc. (NASDAQ:KOD) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,460,000 shares, a growth of 8.1% from the December 15th total of 1,350,000 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average trading volume of 419,000 shares, the short-interest ratio is presently 3.5 days.

Hedge Funds Weigh In On Kodiak Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of KOD. State Street Corp lifted its position in shares of Kodiak Sciences by 1.8% during the third quarter. State Street Corp now owns 816,634 shares of the company’s stock worth $2,131,000 after purchasing an additional 14,711 shares in the last quarter. Geode Capital Management LLC raised its position in Kodiak Sciences by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 768,740 shares of the company’s stock worth $2,007,000 after purchasing an additional 12,783 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Kodiak Sciences by 21.9% during the 2nd quarter. Renaissance Technologies LLC now owns 708,800 shares of the company’s stock worth $1,666,000 after buying an additional 127,400 shares in the last quarter. GSA Capital Partners LLP bought a new position in Kodiak Sciences in the 3rd quarter valued at $751,000. Finally, FMR LLC increased its stake in shares of Kodiak Sciences by 26.4% in the 3rd quarter. FMR LLC now owns 200,971 shares of the company’s stock valued at $525,000 after buying an additional 41,987 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on KOD shares. Barclays lifted their price objective on Kodiak Sciences from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Friday, November 15th. Jefferies Financial Group upgraded Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, December 9th. Finally, HC Wainwright reiterated a “neutral” rating and set a $3.00 price objective on shares of Kodiak Sciences in a research note on Friday, November 15th.

Kodiak Sciences Trading Down 6.2 %

NASDAQ:KOD opened at $7.17 on Friday. Kodiak Sciences has a 1 year low of $2.18 and a 1 year high of $11.60. The firm has a 50 day moving average of $7.94 and a 200-day moving average of $4.65.

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.