Wall Street Zen Downgrades Kodiak Sciences (NASDAQ:KOD) to Sell

Kodiak Sciences (NASDAQ:KOD) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other research analysts have also issued reports on KOD. JPMorgan Chase & Co. upgraded shares of Kodiak Sciences from an “underweight” rating to a “neutral” rating and set a $15.00 target price on the stock in a research note on Thursday, August 14th. Barclays upgraded shares of Kodiak Sciences from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $7.00 to $17.00 in a research report on Thursday, September 25th. Jefferies Financial Group started coverage on shares of Kodiak Sciences in a research report on Monday, September 22nd. They issued a “buy” rating and a $15.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Wednesday, October 8th. Finally, HC Wainwright raised their price target on shares of Kodiak Sciences from $3.00 to $5.00 and gave the stock a “neutral” rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.20.

Kodiak Sciences Trading Down 12.4%

NASDAQ:KOD opened at $11.87 on Friday. Kodiak Sciences has a 1 year low of $1.92 and a 1 year high of $19.39. The firm’s fifty day simple moving average is $10.89 and its 200 day simple moving average is $6.41. The firm has a market capitalization of $626.97 million, a PE ratio of -3.12 and a beta of 2.67.

Kodiak Sciences (NASDAQ:KOD) last posted its earnings results on Wednesday, August 13th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.02). As a group, analysts anticipate that Kodiak Sciences will post -3.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in KOD. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Kodiak Sciences by 55.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock worth $7,668,000 after acquiring an additional 730,000 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Kodiak Sciences by 27.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company’s stock worth $5,454,000 after acquiring an additional 413,821 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Kodiak Sciences by 90.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock worth $1,922,000 after acquiring an additional 324,722 shares during the period. Nantahala Capital Management LLC lifted its holdings in shares of Kodiak Sciences by 99.1% during the 1st quarter. Nantahala Capital Management LLC now owns 530,713 shares of the company’s stock worth $1,489,000 after acquiring an additional 264,100 shares during the period. Finally, ICONIQ Capital LLC lifted its holdings in shares of Kodiak Sciences by 24.6% during the 1st quarter. ICONIQ Capital LLC now owns 1,266,563 shares of the company’s stock worth $3,559,000 after acquiring an additional 249,699 shares during the period. 89.06% of the stock is 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.