Kodiak Sciences (NASDAQ:KOD) Trading Up 10.9% – Here’s Why

Kodiak Sciences Inc. (NASDAQ:KOD)’s share price traded up 10.9% during mid-day trading on Thursday . The company traded as high as $26.14 and last traded at $27.2590. 119,398 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 708,119 shares. The stock had previously closed at $24.58.

Analyst Ratings Changes

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

Kodiak Sciences Stock Down 5.2%

The firm has a market capitalization of $1.34 billion, a PE ratio of -6.14 and a beta of 2.64. The business’s fifty day moving average price is $25.86 and its 200 day moving average price is $18.91.

Insider Buying and Selling at Kodiak Sciences

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in shares of Kodiak Sciences in the 1st quarter valued at approximately $188,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Kodiak Sciences during the 1st quarter worth $94,000. Jane Street Group LLC lifted its stake in shares of 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 purchasing an additional 52,705 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Kodiak Sciences by 21.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock worth $56,000 after buying an additional 2,691 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in Kodiak Sciences by 1.2% during the second quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company’s stock worth $7,343,000 after buying an additional 23,742 shares during the period. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.