Kodiak Sciences (NASDAQ:KOD) Hits New 52-Week High – Here’s What Happened

Kodiak Sciences Inc. (NASDAQ:KOD) shares reached a new 52-week high during trading on Monday . The company traded as high as $46.67 and last traded at $44.6270, with a volume of 270440 shares trading hands. The stock had previously closed at $43.11.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KOD. HC Wainwright reaffirmed a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research note on Friday, March 27th. UBS Group raised their price objective on Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.43.

Kodiak Sciences Stock Performance

The firm has a market capitalization of $2.63 billion, a P/E ratio of -9.83 and a beta of 2.39. The firm’s 50-day moving average is $28.04 and its 200 day moving average is $24.04.

Kodiak Sciences (NASDAQ:KOD) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.02). As a group, research analysts expect that Kodiak Sciences Inc. will post -3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in KOD. AQR Capital Management LLC bought a new stake in Kodiak Sciences during the 1st quarter worth about $188,000. Dynamic Technology Lab Private Ltd bought a new stake in Kodiak Sciences during the 1st quarter worth about $94,000. Jane Street Group LLC lifted its position in Kodiak Sciences by 441.3% during the 1st quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock worth $181,000 after buying an additional 52,705 shares in the last quarter. American Century Companies Inc. lifted its position in Kodiak Sciences by 6.3% during the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock worth $297,000 after buying an additional 4,703 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Kodiak Sciences by 190.7% during the 2nd quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock worth $911,000 after buying an additional 160,225 shares in the last quarter. 89.06% of the stock is owned by institutional investors.

Kodiak Sciences Company Profile

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.