Kodiak Sciences (NASDAQ:KOD) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Kodiak Sciences (NASDAQ:KOD) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other research firms have also recently weighed in on KOD. JPMorgan Chase & Co. boosted their price objective on shares of Kodiak Sciences from $56.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Chardan Capital upgraded shares of Kodiak Sciences from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $61.00 in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak Sciences in a research report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.14.

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $40.98 on Friday. Kodiak Sciences has a one year low of $8.29 and a one year high of $47.84. The business’s fifty day moving average is $39.33 and its 200 day moving average is $35.13. The stock has a market capitalization of $2.56 billion, a PE ratio of -9.78 and a beta of 2.21.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Wednesday, August 12th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.09). As a group, sell-side analysts expect that Kodiak Sciences will post -3.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KOD. Westfuller Advisors LLC purchased a new stake in shares of Kodiak Sciences during the 1st quarter valued at about $26,000. V Square Quantitative Management LLC bought a new position in shares of Kodiak Sciences in the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted 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 during the last quarter. KBC Group NV bought a new stake in Kodiak Sciences during the first quarter valued at approximately $39,000. Finally, GF Fund Management CO. LTD. bought a new stake in Kodiak Sciences during the fourth quarter valued at approximately $29,000. 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.