Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Update

Kodiak Sciences Inc. (NASDAQ:KOD) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 1,540,000 shares, a drop of 10.5% from the September 15th total of 1,720,000 shares. Based on an average trading volume of 200,200 shares, the days-to-cover ratio is currently 7.7 days. Approximately 3.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “neutral” rating and issued a $3.00 target price on shares of Kodiak Sciences in a research report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.00.

Kodiak Sciences Price Performance

NASDAQ:KOD opened at $2.88 on Wednesday. Kodiak Sciences has a 12-month low of $1.37 and a 12-month high of $7.77. The firm has a market capitalization of $151.30 million, a P/E ratio of -0.65 and a beta of 2.34. The business has a 50 day simple moving average of $2.60 and a 200 day simple moving average of $2.98.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.01. Research analysts anticipate that Kodiak Sciences will post -3.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in Kodiak Sciences by 18.5% during the 2nd quarter. American Century Companies Inc. now owns 54,323 shares of the company’s stock valued at $128,000 after acquiring an additional 8,470 shares in the last quarter. Headlands Technologies LLC bought a new stake in Kodiak Sciences during the 1st quarter valued at $50,000. Vanguard Group Inc. raised its stake in Kodiak Sciences by 0.7% during 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 in the last quarter. Nan Fung Group Holdings Ltd raised its stake in Kodiak Sciences by 62.7% during the 1st quarter. Nan Fung Group Holdings Ltd now owns 31,922 shares of the company’s stock valued at $168,000 after acquiring an additional 12,300 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Kodiak Sciences in the 3rd quarter worth $33,000. 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.