Kodiak Sciences (NASDAQ:KOD) Trading 6.7% Higher – Time to Buy?

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

Analyst Upgrades and Downgrades

KOD has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Kodiak Sciences from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. HC Wainwright reissued a “neutral” rating and set a $3.00 price target on shares of Kodiak Sciences in a research report on Friday, November 15th. Finally, Jefferies Financial Group upgraded shares of Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, December 9th.

Kodiak Sciences Price Performance

The stock has a market cap of $519.40 million, a P/E ratio of -2.70 and a beta of 2.38. The stock’s 50 day simple moving average is $5.94 and its two-hundred day simple moving average is $3.81.

Institutional Trading of Kodiak Sciences

Several hedge funds and other institutional investors have recently modified their holdings of KOD. LJI Wealth Management LLC lifted its position in shares of Kodiak Sciences by 21.3% in the third quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock worth $45,000 after purchasing an additional 3,000 shares in the last quarter. American Century Companies Inc. increased its stake in Kodiak Sciences by 18.5% in the 2nd quarter. American Century Companies Inc. now owns 54,323 shares of the company’s stock valued at $128,000 after buying an additional 8,470 shares during the last quarter. Geode Capital Management LLC lifted its position in Kodiak Sciences by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 768,740 shares of the company’s stock worth $2,007,000 after buying an additional 12,783 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Kodiak Sciences during the 3rd quarter worth about $33,000. Finally, State Street Corp grew its holdings in shares of Kodiak Sciences by 1.8% in the 3rd quarter. State Street Corp now owns 816,634 shares of the company’s stock valued at $2,131,000 after acquiring an additional 14,711 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.