Kodiak Sciences (NASDAQ:KOD) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reissued their neutral rating on shares of Kodiak Sciences (NASDAQ:KOD) in a report published on Friday morning,Benzinga reports. The firm currently has a $3.00 price target on the stock.

Kodiak Sciences Stock Up 4.3 %

KOD traded up $0.23 during trading on Friday, hitting $5.53. The company had a trading volume of 596,873 shares, compared to its average volume of 478,590. The company has a market capitalization of $290.96 million, a PE ratio of -1.47 and a beta of 2.26. Kodiak Sciences has a one year low of $1.89 and a one year high of $7.77. The firm’s 50-day moving average price is $3.36 and its 200 day moving average price is $3.05.

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

Institutional Trading of Kodiak Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in KOD. Mirae Asset Global Investments Co. Ltd. bought a new position in Kodiak Sciences in the first quarter valued at $68,000. Sei Investments Co. acquired a new stake in shares of Kodiak Sciences in the first quarter valued at about $595,000. Headlands Technologies LLC bought a new stake in Kodiak Sciences during the first quarter worth about $50,000. State Board of Administration of Florida Retirement System bought a new stake in Kodiak Sciences during the first quarter worth about $86,000. Finally, Vanguard Group Inc. boosted its position in Kodiak Sciences by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,654,448 shares of the company’s stock valued at $8,702,000 after purchasing an additional 10,978 shares during the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.