Kodiak Sciences (NASDAQ:KOD) Trading Down 7.5% – Should You Sell?

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price fell 7.5% during mid-day trading on Friday . The company traded as low as $10.08 and last traded at $10.08. 212,886 shares changed hands during trading, a decline of 55% from the average session volume of 476,958 shares. The stock had previously closed at $10.90.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Kodiak Sciences from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Jefferies Financial Group raised Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, December 9th. Finally, HC Wainwright reissued a “neutral” rating and set a $3.00 target price on shares of Kodiak Sciences in a report on Friday, November 15th.

Kodiak Sciences Stock Down 8.4 %

The business’s 50 day moving average is $6.50 and its 200-day moving average is $4.01. The firm has a market capitalization of $525.15 million, a P/E ratio of -2.73 and a beta of 2.38.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Kodiak Sciences during the 3rd quarter worth $33,000. Meeder Asset Management Inc. bought a new position in shares of Kodiak Sciences in the second quarter worth about $36,000. Sanctuary Advisors LLC acquired a new stake in shares of Kodiak Sciences in the 2nd quarter valued at approximately $36,000. LJI Wealth Management LLC grew its holdings in shares of Kodiak Sciences by 21.3% during the 3rd quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock valued at $45,000 after purchasing an additional 3,000 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Kodiak Sciences by 220.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 44,648 shares of the company’s stock worth $117,000 after purchasing an additional 30,735 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

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.