Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Update

Kodiak Sciences Inc. (NASDAQ:KOD) saw a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 2,280,000 shares, a decline of 32.1% from the May 15th total of 3,360,000 shares. Based on an average trading volume of 419,800 shares, the short-interest ratio is presently 5.4 days. Approximately 4.7% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, HC Wainwright restated a “neutral” rating and issued a $3.00 price objective on shares of Kodiak Sciences in a research report on Monday, March 31st.

Institutional Trading of Kodiak Sciences

Hedge funds have recently modified their holdings of the stock. US Bancorp DE lifted its position in Kodiak Sciences by 131.7% in the 1st quarter. US Bancorp DE now owns 9,282 shares of the company’s stock valued at $26,000 after acquiring an additional 5,276 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Kodiak Sciences in the first quarter valued at $28,000. PNC Financial Services Group Inc. grew its stake in Kodiak Sciences by 1,501.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company’s stock valued at $32,000 after acquiring an additional 2,988 shares in the last quarter. Walleye Capital LLC bought a new stake in Kodiak Sciences during the 1st quarter worth approximately $49,000. Finally, Russell Investments Group Ltd. lifted its stake in Kodiak Sciences by 729.9% in the 1st quarter. Russell Investments Group Ltd. now owns 21,039 shares of the company’s stock worth $59,000 after purchasing an additional 18,504 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Performance

Shares of NASDAQ:KOD opened at $3.63 on Tuesday. The company has a 50-day simple moving average of $3.62 and a 200 day simple moving average of $5.25. The company has a market capitalization of $191.32 million, a P/E ratio of -1.00 and a beta of 2.27. Kodiak Sciences has a 52-week low of $1.92 and a 52-week high of $11.60.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.20). As a group, equities analysts forecast that Kodiak Sciences will post -3.45 earnings per share for the current year.

About Kodiak Sciences

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.