Kodiak Sciences (NASDAQ:KOD) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Kodiak Sciences (NASDAQ:KOD) from a sell rating to a hold rating in a report released on Friday.

A number of other research firms also recently commented on KOD. JPMorgan Chase & Co. raised shares of Kodiak Sciences from an “underweight” rating to a “neutral” rating and set a $15.00 target price for the company in a research report on Thursday, August 14th. HC Wainwright raised their price target on Kodiak Sciences from $3.00 to $5.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Jefferies Financial Group initiated coverage on Kodiak Sciences in a report on Monday, September 22nd. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Barclays upgraded Kodiak Sciences from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $7.00 to $17.00 in a research report on Thursday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.00.

Kodiak Sciences Stock Performance

Shares of NASDAQ:KOD opened at $15.80 on Friday. The firm has a market cap of $834.56 million, a price-to-earnings ratio of -4.16 and a beta of 2.44. The business has a 50-day simple moving average of $9.41 and a two-hundred day simple moving average of $5.63. Kodiak Sciences has a fifty-two week low of $1.92 and a fifty-two week high of $19.39.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly 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, research analysts predict that Kodiak Sciences will post -3.45 earnings per share for the current year.

Institutional Trading of Kodiak Sciences

Hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC grew its holdings in Kodiak Sciences by 256.4% during the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after purchasing an additional 5,815 shares during the period. US Bancorp DE lifted its position in shares of Kodiak Sciences by 131.7% during the 1st quarter. US Bancorp DE now owns 9,282 shares of the company’s stock valued at $26,000 after buying an additional 5,276 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Kodiak Sciences during the 1st quarter valued at about $28,000. Public Employees Retirement System of Ohio grew its stake in shares of Kodiak Sciences by 183.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,759 shares of the company’s stock valued at $147,000 after acquiring an additional 9,560 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Kodiak Sciences by 21.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock valued at $56,000 after acquiring an additional 2,691 shares during the period. Institutional investors 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.