Kodiak Sciences (NASDAQ:KOD) Shares Down 5.9% – Here’s What Happened

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price fell 5.9% on Friday . The stock traded as low as $25.32 and last traded at $25.1010. 60,109 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 725,091 shares. The stock had previously closed at $26.67.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KOD. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Kodiak Sciences in a research note on Tuesday, February 10th. Chardan Capital restated a “neutral” rating and set a $14.00 price objective on shares of Kodiak Sciences in a research report on Monday, November 17th. UBS Group initiated coverage on shares of Kodiak Sciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upgraded Kodiak Sciences from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $15.00 to $24.00 in a report on Friday, October 24th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.29.

Kodiak Sciences Stock Down 4.8%

The stock has a market cap of $1.35 billion, a P/E ratio of -6.16 and a beta of 2.64. The company has a 50-day simple moving average of $25.83 and a two-hundred day simple moving average of $18.78.

Insider Activity

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the transaction, the director directly owned 18,358,772 shares of the company’s stock, valued at approximately $422,251,756. This trade represents a 16.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 45.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Kodiak Sciences by 1,221.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after purchasing an additional 916 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Kodiak Sciences in the 4th quarter worth about $29,000. Cerity Partners LLC lifted its position in Kodiak Sciences by 7.4% during the 4th quarter. Cerity Partners LLC now owns 16,446 shares of the company’s stock valued at $460,000 after acquiring an additional 1,139 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Kodiak Sciences during the fourth quarter worth about $72,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Kodiak Sciences by 21.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock worth $56,000 after purchasing an additional 2,691 shares during the period. 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.