Kodiak Sciences (NASDAQ:KOD) Earns “Neutral” Rating from HC Wainwright

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “neutral” rating reiterated by analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $3.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 19.52% from the company’s current price.

Kodiak Sciences Price Performance

KOD opened at $2.51 on Tuesday. The business has a fifty day moving average price of $2.68 and a 200 day moving average price of $3.36. Kodiak Sciences has a 12 month low of $1.37 and a 12 month high of $7.77. The stock has a market capitalization of $131.86 million, a price-to-earnings ratio of -0.57 and a beta of 2.35.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Wednesday, August 14th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.01. On average, research analysts anticipate that Kodiak Sciences will post -3.52 earnings per share for the current year.

Institutional Trading of Kodiak Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC increased its holdings in shares of Kodiak Sciences by 14.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,965,449 shares of the company’s stock valued at $4,614,000 after acquiring an additional 242,559 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Kodiak Sciences in the 1st quarter valued at about $86,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Kodiak Sciences during the first quarter worth approximately $68,000. Vanguard Group Inc. increased its holdings in shares of Kodiak Sciences by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,654,448 shares of the company’s stock valued at $8,702,000 after acquiring an additional 10,978 shares during the period. Finally, Diversified Trust Co purchased a new stake in Kodiak Sciences in the 1st quarter valued at $83,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.