Kodiak Sciences’ (KOD) Neutral Rating Reiterated at Chardan Capital

Chardan Capital reissued their neutral rating on shares of Kodiak Sciences (NASDAQ:KOD) in a research report released on Monday,Benzinga reports. Chardan Capital currently has a $14.00 target price on the stock.

A number of other equities analysts also recently issued reports on the company. Barclays raised Kodiak Sciences from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $7.00 to $17.00 in a research note on Thursday, September 25th. HC Wainwright upgraded Kodiak Sciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $5.00 to $24.00 in a research report on Tuesday, November 11th. Jefferies Financial Group initiated coverage on Kodiak Sciences in a report on Monday, September 22nd. They issued a “buy” rating and a $15.00 target price for the company. JPMorgan Chase & Co. raised shares of Kodiak Sciences from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $15.00 to $24.00 in a research note on Friday, October 24th. Finally, Wall Street Zen downgraded shares of Kodiak Sciences from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Four 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.67.

Kodiak Sciences Stock Performance

KOD stock opened at $19.53 on Monday. Kodiak Sciences has a one year low of $1.92 and a one year high of $22.14. The stock has a market capitalization of $1.04 billion, a PE ratio of -4.74 and a beta of 2.88. The company has a fifty day moving average of $15.73 and a 200-day moving average of $9.31.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.09). Equities analysts forecast that Kodiak Sciences will post -3.45 earnings per share for the current fiscal year.

Institutional Trading of Kodiak Sciences

Several institutional investors have recently made changes to their positions in the stock. Vestal Point Capital LP acquired a new stake in shares of Kodiak Sciences during the 3rd quarter worth $4,092,000. Millennium Management LLC grew its position in Kodiak Sciences by 210.5% during the third quarter. Millennium Management LLC now owns 155,255 shares of the company’s stock valued at $2,542,000 after acquiring an additional 105,255 shares during the period. Fred Alger Management LLC acquired a new stake in Kodiak Sciences during the third quarter worth about $2,264,000. Bank of America Corp DE increased its stake in Kodiak Sciences by 657.7% during the third quarter. Bank of America Corp DE now owns 309,071 shares of the company’s stock worth $5,059,000 after acquiring an additional 268,281 shares during the last quarter. Finally, Boone Capital Management LLC purchased a new position in shares of Kodiak Sciences in the 3rd quarter worth about $11,719,000. 89.06% of the stock is owned by hedge funds and other 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.