Kodiak Sciences Inc. (NASDAQ:KOD) Sees Significant Increase in Short Interest

Kodiak Sciences Inc. (NASDAQ:KOD) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,460,000 shares, a growth of 8.1% from the December 15th total of 1,350,000 shares. Approximately 3.0% of the company’s shares are short sold. Based on an average daily trading volume, of 419,000 shares, the short-interest ratio is presently 3.5 days.

Kodiak Sciences Stock Performance

KOD opened at $7.17 on Friday. Kodiak Sciences has a 12 month low of $2.18 and a 12 month high of $11.60. The company has a fifty day simple moving average of $7.94 and a 200 day simple moving average of $4.65.

Institutional Investors Weigh In On Kodiak Sciences

Several large investors have recently modified their holdings of KOD. American Century Companies Inc. raised its holdings in shares of Kodiak Sciences by 18.5% during the second quarter. American Century Companies Inc. now owns 54,323 shares of the company’s stock worth $128,000 after acquiring an additional 8,470 shares during the period. Renaissance Technologies LLC increased its holdings in Kodiak Sciences by 21.9% during the 2nd quarter. Renaissance Technologies LLC now owns 708,800 shares of the company’s stock worth $1,666,000 after purchasing an additional 127,400 shares in the last quarter. Sei Investments Co. raised its stake in shares of Kodiak Sciences by 27.1% in the 2nd quarter. Sei Investments Co. now owns 143,841 shares of the company’s stock valued at $338,000 after purchasing an additional 30,683 shares during the period. Marshall Wace LLP lifted its holdings in shares of Kodiak Sciences by 41.6% in the second quarter. Marshall Wace LLP now owns 166,425 shares of the company’s stock valued at $391,000 after purchasing an additional 48,930 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Kodiak Sciences during the second quarter worth about $127,000. 89.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.