Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Down 18.1% in May

Posted by on Jun 17th, 2022

Kodiak Sciences Inc. (NASDAQ:KOD – Get Rating) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 2,540,000 shares, a decline of 18.1% from the May 15th total of 3,100,000 shares. Currently, 5.3% of the company’s shares are sold short. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is currently 2.2 days.

A number of equities analysts have weighed in on KOD shares. Roth Capital dropped their price target on shares of Kodiak Sciences from $149.00 to $75.00 in a research report on Monday, February 28th. Citigroup dropped their price target on shares of Kodiak Sciences from $70.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, February 24th. Chardan Capital reiterated a “buy” rating on shares of Kodiak Sciences in a research report on Monday, April 11th. JPMorgan Chase & Co. lowered shares of Kodiak Sciences from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $90.00 to $21.00 in a research report on Thursday, February 24th. Finally, Morgan Stanley lowered their target price on shares of Kodiak Sciences from $17.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Kodiak Sciences presently has an average rating of “Hold” and an average target price of $45.33.

In other news, Director Bros. Advisors Lp Baker purchased 122,100 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was bought at an average cost of $5.72 per share, for a total transaction of $698,412.00. Following the acquisition, the director now directly owns 14,843,809 shares of the company’s stock, valued at approximately $84,906,587.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 816,015 shares of company stock valued at $5,670,730. Company insiders own 39.70% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC raised its position in Kodiak Sciences by 2,160.0% in the 4th quarter. Lindbrook Capital LLC now owns 565 shares of the company’s stock valued at $48,000 after purchasing an additional 540 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Kodiak Sciences during the 1st quarter worth $73,000. Exane Derivatives grew its stake in Kodiak Sciences by 8,472.7% in the 4th quarter. Exane Derivatives now owns 943 shares of the company’s stock valued at $80,000 after acquiring an additional 932 shares during the last quarter. Tiedemann Advisors LLC acquired a new stake in Kodiak Sciences in the 1st quarter valued at about $92,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Kodiak Sciences in the 1st quarter valued at about $101,000. Institutional investors own 69.80% of the company’s stock.

Shares of NASDAQ:KOD traded up $0.90 during trading on Friday, reaching $7.91. The stock had a trading volume of 1,245,452 shares, compared to its average volume of 2,026,914. The business has a fifty day moving average price of $6.74 and a 200-day moving average price of $34.99. The stock has a market cap of $410.96 million, a PE ratio of -1.27 and a beta of 1.97. Kodiak Sciences has a 1-year low of $4.90 and a 1-year high of $26.39.

Kodiak Sciences (NASDAQ:KOD – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.51) by ($0.32). During the same quarter in the previous year, the firm posted ($0.98) earnings per share. Research analysts expect that Kodiak Sciences will post -7.06 earnings per share for the current year.

Kodiak Sciences Company Profile (Get Rating)

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, researches, develops, and commercializes therapeutics to treat retinal diseases. Its lead product candidate is 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 for the treatment of diabetic macular edema, naïve macular edema due to retinal vein occlusion, and non-proliferative diabetic retinopathy.

Featured Stories

Want More Great Investing Ideas?

Receive News & Ratings for Kodiak Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kodiak Sciences and related companies with MarketBeat.com's FREE daily email newsletter.