Kodiak Sciences Inc. (NASDAQ:KOD) Receives Consensus Recommendation of “Reduce” from Analysts

Kodiak Sciences Inc. (NASDAQ:KOD) has earned a consensus recommendation of “Reduce” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $5.50.

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Kodiak Sciences from $3.00 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Barclays increased their price target on Kodiak Sciences from $2.00 to $3.00 and gave the company an “underweight” rating in a research report on Monday, April 1st.

Kodiak Sciences Stock Performance

Shares of KOD opened at $3.21 on Friday. The firm has a market capitalization of $168.59 million, a price-to-earnings ratio of -0.65 and a beta of 2.15. Kodiak Sciences has a one year low of $1.37 and a one year high of $9.80. The stock’s fifty day moving average is $5.00 and its 200-day moving average is $3.72.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Thursday, March 28th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.27). Analysts forecast that Kodiak Sciences will post -4.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Kodiak Sciences

A number of institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its position in Kodiak Sciences by 253.6% during the 3rd quarter. Acadian Asset Management LLC now owns 1,636,621 shares of the company’s stock worth $2,945,000 after acquiring an additional 1,173,832 shares during the period. Newtyn Management LLC lifted its holdings in shares of Kodiak Sciences by 62.5% during the 3rd quarter. Newtyn Management LLC now owns 1,608,694 shares of the company’s stock valued at $2,896,000 after buying an additional 618,991 shares during the last quarter. Silverarc Capital Management LLC acquired a new stake in shares of Kodiak Sciences during the 3rd quarter valued at about $2,006,000. Monaco Asset Management SAM lifted its holdings in shares of Kodiak Sciences by 129.5% during the 3rd quarter. Monaco Asset Management SAM now owns 493,726 shares of the company’s stock valued at $889,000 after buying an additional 278,605 shares during the last quarter. Finally, Acuitas Investments LLC lifted its holdings in shares of Kodiak Sciences by 59.2% during the 4th quarter. Acuitas Investments LLC now owns 234,092 shares of the company’s stock valued at $712,000 after buying an additional 87,043 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

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.