HC Wainwright Reaffirms “Neutral” Rating for Kodiak Sciences (NASDAQ:KOD)

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “neutral” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $3.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 17.19% from the company’s current price.

Separately, Jefferies Financial Group upgraded Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, December 9th.

Kodiak Sciences Stock Down 8.9 %

Kodiak Sciences stock opened at $2.56 on Monday. The firm has a fifty day simple moving average of $4.66 and a two-hundred day simple moving average of $5.45. Kodiak Sciences has a twelve month low of $2.19 and a twelve month high of $11.60. The company has a market capitalization of $134.72 million, a PE ratio of -0.70 and a beta of 2.26.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Thursday, March 27th. The company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.06. As a group, equities analysts expect that Kodiak Sciences will post -3.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Kodiak Sciences by 1,501.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company’s stock worth $32,000 after buying an additional 2,988 shares during the period. US Bancorp DE purchased a new stake in Kodiak Sciences in the fourth quarter worth $40,000. Headlands Technologies LLC purchased a new stake in Kodiak Sciences in the fourth quarter worth $90,000. Fox Run Management L.L.C. bought a new stake in Kodiak Sciences in the fourth quarter valued at $118,000. Finally, Jump Financial LLC purchased a new position in Kodiak Sciences during the 4th quarter valued at $147,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

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.