Kodiak Sciences (NASDAQ:KOD) Stock Price Up 7.9% – Should You Buy?

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) rose 7.9% on Wednesday . The company traded as high as $35.43 and last traded at $35.5350. Approximately 60,533 shares changed hands during trading, a decline of 93% from the average daily volume of 898,928 shares. The stock had previously closed at $32.94.

Analyst Upgrades and Downgrades

KOD has been the subject of a number of recent research reports. Wall Street Zen upgraded Kodiak Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group raised their target price on shares of Kodiak Sciences from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Chardan Capital raised shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $61.00 in a report on Monday, May 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kodiak Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Kodiak Sciences Stock Up 1.2%

The stock has a fifty day simple moving average of $38.83 and a 200 day simple moving average of $30.98. The firm has a market capitalization of $2.26 billion, a P/E ratio of -8.67 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). Research analysts anticipate that Kodiak Sciences Inc. will post -3.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KOD. Westfuller Advisors LLC purchased a new stake in Kodiak Sciences during the 1st quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new position in shares of Kodiak Sciences in the first quarter worth $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Kodiak Sciences by 1,221.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the company’s stock worth $28,000 after buying an additional 916 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Kodiak Sciences during the fourth quarter worth $29,000. Finally, Headlands Technologies LLC boosted its position in shares of Kodiak Sciences by 256.4% during the second quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock worth $30,000 after acquiring an additional 5,815 shares during the last quarter. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.