Kodiak Sciences (NASDAQ:KOD) Now Covered by HC Wainwright

Equities research analysts at HC Wainwright assumed coverage on shares of Kodiak Sciences (NASDAQ:KOD) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $3.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 29.87% from the stock’s current price.

Kodiak Sciences Stock Down 6.9 %

KOD stock opened at $2.31 on Thursday. Kodiak Sciences has a 52-week low of $1.37 and a 52-week high of $7.77. The stock’s 50 day moving average is $2.67 and its two-hundred day moving average is $3.64. The company has a market capitalization of $121.36 million, a PE ratio of -0.52 and a beta of 2.35.

Institutional Investors Weigh In On Kodiak Sciences

Institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System bought a new stake in shares of Kodiak Sciences in the 1st quarter valued at approximately $86,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Kodiak Sciences in the 1st quarter valued at 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 last quarter. Diversified Trust Co acquired a new position in Kodiak Sciences during the 1st quarter valued at approximately $83,000. Finally, Sei Investments Co. acquired a new position in Kodiak Sciences during the 1st quarter valued at approximately $595,000. 89.06% of the stock is currently owned by institutional investors.

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.