Kodiak Sciences (NASDAQ:KOD) Trading Down 4.4% – Time to Sell?

Kodiak Sciences Inc. (NASDAQ:KOD) dropped 4.4% during trading on Thursday . The company traded as low as $25.95 and last traded at $25.7750. Approximately 274,791 shares traded hands during trading, a decline of 53% from the average daily volume of 585,993 shares. The stock had previously closed at $26.97.

Wall Street Analyst Weigh In

Several analysts have commented on KOD shares. Jefferies Financial Group assumed coverage on shares of Kodiak Sciences in a research report on Monday, September 22nd. They set a “buy” rating and a $15.00 price target for the company. Chardan Capital reaffirmed a “neutral” rating and set a $14.00 target price on shares of Kodiak Sciences in a report on Monday, November 17th. HC Wainwright increased their price target on shares of Kodiak Sciences from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Barclays raised shares of Kodiak Sciences from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $7.00 to $17.00 in a report on Thursday, September 25th. Finally, Lifesci Capital began coverage on shares of Kodiak Sciences in a research note on Thursday, October 23rd. They set an “outperform” rating and a $40.00 target price on the stock. Four 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 company. According to MarketBeat, Kodiak Sciences currently has an average rating of “Hold” and an average price target of $22.67.

Kodiak Sciences Stock Performance

The stock has a market cap of $1.38 billion, a PE ratio of -6.31 and a beta of 2.68. The company’s 50-day moving average price is $20.38 and its 200 day moving average price is $12.31.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.09). As a group, equities research analysts predict that Kodiak Sciences Inc. will post -3.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Kodiak Sciences

In other news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was bought at an average price of $23.00 per share, for a total transaction of $60,000,008.00. Following the completion of the purchase, the director directly owned 18,358,772 shares of the company’s stock, valued at $422,251,756. The trade was a 16.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 45.90% of the company’s stock.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. lifted its position in Kodiak Sciences by 55.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock worth $7,668,000 after acquiring an additional 730,000 shares during the period. Boone Capital Management LLC purchased a new stake in shares of Kodiak Sciences during the third quarter worth approximately $11,719,000. Acadian Asset Management LLC lifted its holdings in shares of Kodiak Sciences by 27.0% during the first quarter. Acadian Asset Management LLC now owns 1,946,134 shares of the company’s stock worth $5,454,000 after purchasing an additional 413,821 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Kodiak Sciences by 90.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 685,198 shares of the company’s stock worth $1,922,000 after acquiring an additional 324,722 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Kodiak Sciences by 657.7% during the third quarter. Bank of America Corp DE now owns 309,071 shares of the company’s stock worth $5,059,000 after acquiring an additional 268,281 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.