HC Wainwright Reiterates Neutral Rating for Kodiak Sciences (NASDAQ:KOD)

HC Wainwright reissued their neutral rating on shares of Kodiak Sciences (NASDAQ:KOD) in a research report report published on Monday,Benzinga reports. The firm currently has a $3.00 target price on the stock.

Separately, Jefferies Financial Group upgraded Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, December 9th.

Kodiak Sciences Trading Down 3.4 %

KOD stock opened at $2.81 on Monday. The firm’s 50-day moving average is $4.76 and its two-hundred day moving average is $5.45. The company has a market capitalization of $147.87 million, a price-to-earnings ratio of -0.77 and a beta of 2.26. Kodiak Sciences has a 52 week low of $2.19 and a 52 week high of $11.60.

Kodiak Sciences (NASDAQ:KOD) last announced its earnings results on Thursday, March 27th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.06. On average, equities research analysts predict that Kodiak Sciences will post -3.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KOD. Price T Rowe Associates Inc. MD boosted its stake in shares of Kodiak Sciences by 10,982.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,268,509 shares of the company’s stock worth $12,622,000 after acquiring an additional 1,257,063 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Kodiak Sciences during the fourth quarter valued at $11,338,000. Boxer Capital Management LLC acquired a new position in shares of Kodiak Sciences in the 4th quarter valued at $9,950,000. Point72 Asset Management L.P. purchased a new position in Kodiak Sciences in the 4th quarter worth about $5,211,000. Finally, Silverarc Capital Management LLC raised its holdings in Kodiak Sciences by 100.0% during the 4th quarter. Silverarc Capital Management LLC now owns 1,000,000 shares of the company’s stock worth $9,950,000 after buying an additional 500,000 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.