Kodiak Sciences (NASDAQ:KOD) Shares Down 5.9% – Time to Sell?

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) dropped 5.9% during mid-day trading on Friday . The stock traded as low as $25.32 and last traded at $25.1010. Approximately 60,109 shares traded hands during trading, a decline of 92% from the average daily volume of 725,091 shares. The stock had previously closed at $26.67.

Analyst Ratings Changes

A number of brokerages have issued reports on KOD. Chardan Capital reiterated a “neutral” rating and set a $14.00 price objective on shares of Kodiak Sciences in a research note on Monday, November 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. UBS Group assumed coverage on shares of Kodiak Sciences in a report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price for the company. Lifesci Capital started coverage on shares of Kodiak Sciences in a research report on Thursday, October 23rd. They set an “outperform” rating and a $40.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Kodiak Sciences in a research report on Tuesday, February 10th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Kodiak Sciences presently has an average rating of “Moderate Buy” and an average target price of $28.29.

Kodiak Sciences Stock Down 4.8%

The company has a market cap of $1.35 billion, a P/E ratio of -6.16 and a beta of 2.64. The company has a fifty day moving average of $25.83 and a 200 day moving average of $18.78.

Insider Transactions at Kodiak Sciences

In other Kodiak Sciences news, Director Bros. Advisors Lp Baker bought 2,608,696 shares of Kodiak Sciences stock in a transaction on Thursday, December 18th. The stock was acquired at an average cost of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the acquisition, the director owned 18,358,772 shares in the company, valued at approximately $422,251,756. This represents a 16.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 45.90% of the company’s stock.

Institutional Investors Weigh In On Kodiak Sciences

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC purchased a new position in Kodiak Sciences during the first quarter valued at $188,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Kodiak Sciences during the 1st quarter valued at about $94,000. Jane Street Group LLC grew its stake in shares of Kodiak Sciences by 441.3% during the 1st quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock valued at $181,000 after acquiring an additional 52,705 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Kodiak Sciences by 21.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock worth $56,000 after acquiring an additional 2,691 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Kodiak Sciences by 1.2% during the 2nd quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company’s stock worth $7,343,000 after acquiring an additional 23,742 shares during the period. Institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

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.