Kodiak Sciences (NASDAQ:KOD) Shares Up 8.3% – What’s Next?

Kodiak Sciences Inc. (NASDAQ:KOD) shares shot up 8.3% on Tuesday . The company traded as high as $36.89 and last traded at $36.4540. 338,742 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 992,208 shares. The stock had previously closed at $33.66.

Wall Street Analyst Weigh In

KOD has been the subject of several research analyst reports. UBS Group raised their price target on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a report on Friday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Kodiak Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $35.43.

Kodiak Sciences Price Performance

The firm’s 50 day moving average price is $25.27 and its two-hundred day moving average price is $22.14. The stock has a market cap of $2.08 billion, a PE ratio of -9.48 and a beta of 2.61.

Hedge Funds Weigh In On Kodiak Sciences

A number of large investors have recently made changes to their positions in KOD. AQR Capital Management LLC bought a new stake in shares of Kodiak Sciences during the 1st quarter valued at $188,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Kodiak Sciences in the first quarter worth about $94,000. Jane Street Group LLC lifted its holdings in shares of Kodiak Sciences by 441.3% in the first 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. boosted its position in shares of Kodiak Sciences by 6.3% in the second quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after acquiring an additional 4,703 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in shares of Kodiak Sciences by 28.5% in the second quarter. Panagora Asset Management Inc. now owns 131,122 shares of the company’s stock valued at $489,000 after acquiring an additional 29,113 shares during the period. 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.