Kodiak Sciences (NASDAQ:KOD) Trading 6.7% Higher – Still a Buy?

Kodiak Sciences Inc. (NASDAQ:KOD) traded up 6.7% on Tuesday . The company traded as high as $9.88 and last traded at $9.87. 253,545 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 477,613 shares. The stock had previously closed at $9.25.

Analysts Set New Price Targets

Several brokerages have issued reports on KOD. Barclays increased their price objective 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 shares of Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Monday, December 9th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $3.00 price target on shares of Kodiak Sciences in a research note on Friday, November 15th.

Kodiak Sciences Stock Performance

The firm has a fifty day simple moving average of $6.22 and a 200-day simple moving average of $3.90. The company has a market capitalization of $519.40 million, a PE ratio of -2.70 and a beta of 2.38.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Kodiak Sciences by 65.5% in the 3rd quarter. Barclays PLC now owns 79,658 shares of the company’s stock valued at $208,000 after acquiring an additional 31,527 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Kodiak Sciences by 1.7% in the third quarter. Geode Capital Management LLC now owns 768,740 shares of the company’s stock worth $2,007,000 after purchasing an additional 12,783 shares during the period. State Street Corp increased its stake in Kodiak Sciences by 1.8% during the third quarter. State Street Corp now owns 816,634 shares of the company’s stock valued at $2,131,000 after purchasing an additional 14,711 shares during the last quarter. FMR LLC raised its holdings in shares of Kodiak Sciences by 26.4% during the third quarter. FMR LLC now owns 200,971 shares of the company’s stock worth $525,000 after purchasing an additional 41,987 shares during the period. Finally, LJI Wealth Management LLC lifted its position in shares of Kodiak Sciences by 21.3% in the 3rd quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock worth $45,000 after buying an additional 3,000 shares during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

Kodiak Sciences Company Profile

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.