Kodiak Sciences Inc. (NASDAQ:KOD) Receives Average Recommendation of “Reduce” from Analysts

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have received an average recommendation of “Reduce” from the seven brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $5.50.

A number of analysts recently weighed in on KOD shares. UBS Group increased their price target on shares of Kodiak Sciences from $3.00 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Barclays increased their price target on shares of Kodiak Sciences from $2.00 to $3.00 and gave the company an “underweight” rating in a research report on Monday, April 1st.

Kodiak Sciences Price Performance

KOD opened at $3.19 on Friday. Kodiak Sciences has a fifty-two week low of $1.37 and a fifty-two week high of $9.80. The firm’s fifty day moving average price is $5.13 and its two-hundred day moving average price is $3.67. The company has a market capitalization of $167.24 million, a P/E ratio of -0.64 and a beta of 2.15.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Thursday, March 28th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.27). On average, equities research analysts expect that Kodiak Sciences will post -4.31 EPS for the current fiscal year.

Institutional Trading of Kodiak Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in KOD. SG Americas Securities LLC bought a new stake in shares of Kodiak Sciences during the third quarter worth about $37,000. Acuitas Investments LLC bought a new stake in shares of Kodiak Sciences during the third quarter worth about $265,000. Marquette Asset Management LLC bought a new stake in shares of Kodiak Sciences during the third quarter worth about $54,000. Barclays PLC lifted its stake in shares of Kodiak Sciences by 78.3% in the third quarter. Barclays PLC now owns 63,384 shares of the company’s stock worth $114,000 after acquiring an additional 27,843 shares during the period. Finally, Monaco Asset Management SAM lifted its stake in shares of Kodiak Sciences by 129.5% in the third quarter. Monaco Asset Management SAM now owns 493,726 shares of the company’s stock worth $889,000 after acquiring an additional 278,605 shares during the period. 89.06% of the stock is currently owned by institutional investors.

About Kodiak Sciences

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.