Kodiak Sciences (NASDAQ:KOD) Trading Down 7.6% – Should You Sell?

Kodiak Sciences Inc. (NASDAQ:KOD) fell 7.6% during mid-day trading on Friday . The stock traded as low as $26.10 and last traded at $25.92. 208,797 shares were traded during trading, a decline of 73% from the average session volume of 759,403 shares. The stock had previously closed at $28.04.

Analyst Upgrades and Downgrades

KOD has been the subject of several recent research reports. JPMorgan Chase & Co. raised Kodiak Sciences from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $15.00 to $24.00 in a research report on Friday, October 24th. Chardan Capital reiterated a “neutral” rating and issued a $14.00 target price on shares of Kodiak Sciences in a research note on Monday, November 17th. HC Wainwright increased their price target on shares of Kodiak Sciences from $26.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a report on Wednesday, October 8th. Finally, UBS Group began coverage on shares of Kodiak Sciences in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.29.

Kodiak Sciences Price Performance

The stock has a market capitalization of $1.38 billion, a PE ratio of -6.31 and a beta of 2.67. The business’s fifty day moving average price is $25.28 and its two-hundred day moving average price is $16.30.

Kodiak Sciences (NASDAQ:KOD) last issued its 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). As a group, equities research analysts anticipate that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

Insider Activity at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker bought 2,608,696 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the acquisition, the director directly owned 18,358,772 shares of the company’s stock, valued at $422,251,756. This trade represents a 16.56% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 45.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kodiak Sciences

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired 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 lifted its holdings in shares of Kodiak Sciences by 441.3% in the 1st quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock valued at $181,000 after buying an additional 52,705 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Kodiak Sciences by 21.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,070 shares of the company’s stock valued at $56,000 after buying an additional 2,691 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Kodiak Sciences by 1.2% in the second quarter. Acadian Asset Management LLC now owns 1,969,876 shares of the company’s stock worth $7,343,000 after buying an additional 23,742 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other 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.