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

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

Kodiak Sciences Price Performance

Kodiak Sciences stock opened at $5.82 on Tuesday. The stock’s 50 day moving average price is $8.30 and its 200 day moving average price is $5.01. Kodiak Sciences has a 1-year low of $2.18 and a 1-year high of $11.60. The company has a market cap of $306.27 million, a PE ratio of -1.59 and a beta of 2.11.

Institutional Investors Weigh In On Kodiak Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of KOD. American Century Companies Inc. lifted its position in shares of 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 during the period. Sei Investments Co. increased its holdings in Kodiak Sciences by 27.1% during the 2nd quarter. Sei Investments Co. now owns 143,841 shares of the company’s stock valued at $338,000 after acquiring an additional 30,683 shares in the last quarter. Marshall Wace LLP raised its position in shares of Kodiak Sciences by 41.6% during the 2nd quarter. Marshall Wace LLP now owns 166,425 shares of the company’s stock worth $391,000 after purchasing an additional 48,930 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Kodiak Sciences in the second quarter worth $127,000. Finally, Sanctuary Advisors LLC purchased a new position in Kodiak Sciences in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 89.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KOD shares. Jefferies Financial Group raised Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, December 9th. HC Wainwright reissued a “neutral” rating and issued a $3.00 price objective on shares of Kodiak Sciences in a research note on Friday, November 15th. Finally, Barclays raised their target price 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.

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.