Kodiak Sciences (NASDAQ:KOD) Hits New 52-Week High – Should You Buy?

Kodiak Sciences Inc. (NASDAQ:KOD)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $36.84 and last traded at $36.0160, with a volume of 3075248 shares. The stock had previously closed at $22.75.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KOD shares. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Kodiak Sciences in a research report on Tuesday, February 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. Finally, UBS Group started coverage on shares of Kodiak Sciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.29.

Kodiak Sciences Stock Up 62.7%

The business’s 50 day moving average is $24.69 and its 200-day moving average is $21.49. The firm has a market capitalization of $1.96 billion, a P/E ratio of -8.99 and a beta of 2.61.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC acquired a new position in shares of Kodiak Sciences during the 1st quarter worth $188,000. Dynamic Technology Lab Private Ltd acquired a new stake in Kodiak Sciences in the first quarter valued at about $94,000. Jane Street Group LLC grew its position in Kodiak Sciences by 441.3% in the first quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock valued at $181,000 after acquiring an additional 52,705 shares during the last quarter. American Century Companies Inc. grew its position in Kodiak Sciences by 6.3% in the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after acquiring an additional 4,703 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Kodiak Sciences by 28.5% during the second quarter. Panagora Asset Management Inc. now owns 131,122 shares of the company’s stock worth $489,000 after acquiring an additional 29,113 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

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.