Kodiak Sciences (NASDAQ:KOD) Shares Gap Up – Time to Buy?

Kodiak Sciences Inc. (NASDAQ:KOD)’s share price gapped up prior to trading on Monday . The stock had previously closed at $8.65, but opened at $9.00. Kodiak Sciences shares last traded at $9.55, with a volume of 299,816 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. HC Wainwright reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Kodiak Sciences in a research note on Friday, November 15th. Barclays lifted their target price on shares of Kodiak Sciences from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Finally, Jefferies Financial Group upgraded 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 Trading Up 8.6 %

The business’s fifty day simple moving average is $5.81 and its two-hundred day simple moving average is $3.77. The stock has a market capitalization of $494.14 million, a P/E ratio of -2.57 and a beta of 2.38.

Institutional Trading of Kodiak Sciences

Institutional investors and hedge funds have recently modified their holdings of the company. Panagora Asset Management Inc. acquired a new position in Kodiak Sciences in the second quarter worth about $207,000. Acadian Asset Management LLC lifted its holdings in shares of Kodiak Sciences by 14.1% during the second quarter. Acadian Asset Management LLC now owns 1,965,449 shares of the company’s stock valued at $4,614,000 after acquiring an additional 242,559 shares during the period. American Century Companies Inc. lifted 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 valued at $128,000 after acquiring an additional 8,470 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Kodiak Sciences in the 2nd quarter worth about $36,000. Finally, Renaissance Technologies LLC increased its position in shares of 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. 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.