Kodiak Sciences (NASDAQ:KOD) Shares Down 7.7% – Should You Sell?

Kodiak Sciences Inc. (NASDAQ:KOD) shares fell 7.7% during trading on Tuesday. The stock traded as low as $93.25 and last traded at $91.6450. 898,408 shares changed hands during trading, a decline of 21% from the average daily volume of 1,135,682 shares. The stock had previously closed at $99.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group boosted their price objective on Kodiak Sciences from $80.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $112.00 price target on shares of Kodiak Sciences in a research report on Monday, September 28th. HC Wainwright increased their price target on shares of Kodiak Sciences from $96.00 to $126.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Kodiak Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.71.

Kodiak Sciences Stock Down 7.3%

The company has a fifty day moving average of $50.02 and a two-hundred day moving average of $42.87. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of -21.95 and a beta of 2.03.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). Equities analysts anticipate that Kodiak Sciences Inc. will post -3.97 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bros. Advisors Lp Baker purchased 807,840 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average cost of $72.57 per share, with a total value of $58,624,948.80. Following the completion of the acquisition, the director directly owned 19,121,134 shares of the company’s stock, valued at approximately $1,387,620,694.38. This trade represents a 4.41% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 1,941,755 shares of company stock worth $156,986,026 in the last quarter. Insiders own 44.40% of the company’s stock.

Institutional Trading of Kodiak Sciences

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE purchased a new stake in shares of Kodiak Sciences during the 2nd quarter worth $14,949,000. Bank of New York Mellon Corp acquired a new position in shares of Kodiak Sciences during the 2nd quarter worth $4,361,000. Squarepoint Ops LLC boosted its position in shares of Kodiak Sciences by 112.6% in the 2nd quarter. Squarepoint Ops LLC now owns 151,098 shares of the company’s stock worth $5,887,000 after buying an additional 80,042 shares in the last quarter. Algert Global LLC boosted its position in shares of Kodiak Sciences by 26.1% in the 2nd quarter. Algert Global LLC now owns 186,476 shares of the company’s stock worth $7,265,000 after buying an additional 38,546 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Kodiak Sciences by 31.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 120,629 shares of the company’s stock worth $4,598,000 after buying an additional 29,121 shares in the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

Kodiak Sciences Inc (NASDAQ: KOD) is a clinical-stage biopharmaceutical company focused on developing medicines for serious retinal diseases. The company’s research is centered on its Antibody Biopolymer Conjugate (ABC) platform, which is designed to combine antibody-based therapies with biopolymer technology to potentially extend the duration of treatment in the eye.

Kodiak’s lead programs have focused on ophthalmic diseases involving abnormal blood-vessel growth or leakage, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.