Kodiak Sciences Inc. (NASDAQ:KOD – Get Free Report) shares were up 6.3% on Thursday . The stock traded as high as $33.40 and last traded at $33.5190. 762,167 shares changed hands during trading, a decline of 8% from the average session volume of 831,858 shares. The stock had previously closed at $31.52.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on KOD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a report on Friday, July 10th. The Goldman Sachs Group started coverage on shares of Kodiak Sciences in a research report on Thursday. They set a “neutral” rating and a $36.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $58.00 price objective on shares of Kodiak Sciences in a research report on Thursday, September 17th. JPMorgan Chase & Co. boosted their target price on Kodiak Sciences from $56.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Kodiak Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.14.
Check Out Our Latest Research Report on Kodiak Sciences
Kodiak Sciences Stock Performance
Kodiak Sciences (NASDAQ:KOD – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.09). As a group, analysts anticipate that Kodiak Sciences Inc. will post -3.89 earnings per share for the current year.
Hedge Funds Weigh In On Kodiak Sciences
A number of hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in Kodiak Sciences by 31.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 120,629 shares of the company’s stock worth $4,598,000 after buying an additional 29,121 shares during the last quarter. Algert Global LLC grew its position in Kodiak Sciences by 26.1% during the second quarter. Algert Global LLC now owns 186,476 shares of the company’s stock valued at $7,265,000 after acquiring an additional 38,546 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Kodiak Sciences during the second quarter worth approximately $1,072,000. California State Teachers Retirement System lifted its holdings in shares of Kodiak Sciences by 1,358.9% in the 1st quarter. California State Teachers Retirement System now owns 29,396 shares of the company’s stock worth $1,121,000 after acquiring an additional 27,381 shares during the last quarter. Finally, Swiss National Bank bought a new stake in shares of Kodiak Sciences in the 1st quarter worth approximately $2,188,000. 89.06% of the stock is currently owned by hedge funds and other institutional investors.
About Kodiak Sciences
Kodiak Sciences Inc (NASDAQ: KOD) is a biopharmaceutical company focused on developing therapies for retinal diseases and other conditions affecting the eye. The company’s research is centered on antibody biopolymer conjugates, a technology designed to extend the duration of action of biologic medicines in ocular tissues and potentially reduce the frequency of administration.
Its lead development program has been tarcocimab tedromer, also known as KSI-301, an anti-vascular endothelial growth factor (VEGF) therapy investigated for retinal vascular diseases, including diabetic macular edema, diabetic retinopathy and neovascular age-related macular degeneration.
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