Kodiak Sciences (NASDAQ:KOD) Hits New 1-Year High – Here’s What Happened

Kodiak Sciences Inc. (NASDAQ:KOD)’s share price reached a new 52-week high on Thursday . The stock traded as high as $24.34 and last traded at $24.4450, with a volume of 217756 shares traded. The stock had previously closed at $22.96.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Chardan Capital reiterated a “neutral” rating and issued a $14.00 price objective on shares of Kodiak Sciences in a research note on Monday, November 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised Kodiak Sciences from a “neutral” rating to an “overweight” rating and raised their target price for the company from $15.00 to $24.00 in a research report on Friday, October 24th. Wall Street Zen lowered shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Finally, Barclays raised Kodiak Sciences from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $7.00 to $17.00 in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.67.

Kodiak Sciences Price Performance

The stock has a market cap of $1.27 billion, a P/E ratio of -5.84 and a beta of 2.68. The firm’s fifty day moving average price is $17.93 and its two-hundred day moving average price is $10.58.

Kodiak Sciences (NASDAQ:KOD) last posted 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). On average, research analysts expect that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

Institutional Trading of Kodiak Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. bought a new position in Kodiak Sciences in the first quarter valued at $236,000. XTX Topco Ltd bought a new stake in Kodiak Sciences during the first quarter valued at about $126,000. US Bancorp DE raised its stake in shares of Kodiak Sciences by 131.7% in the first quarter. US Bancorp DE now owns 9,282 shares of the company’s stock worth $26,000 after buying an additional 5,276 shares during the period. Deutsche Bank AG lifted its position in shares of Kodiak Sciences by 8.9% during the 1st quarter. Deutsche Bank AG now owns 73,564 shares of the company’s stock valued at $207,000 after buying an additional 6,018 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Kodiak Sciences in the 1st quarter worth approximately $392,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.