Kodiak Sciences Inc. (NASDAQ:KOD) Given Consensus Rating of “Reduce” by Analysts

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have earned a consensus recommendation of “Reduce” from the five analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $7.00.

KOD has been the topic of a number of recent research reports. Chardan Capital lowered Kodiak Sciences from a “buy” rating to a “neutral” rating in a report on Tuesday, July 25th. UBS Group lowered Kodiak Sciences from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $4.00 in a report on Thursday, July 27th. Capital One Financial raised Kodiak Sciences from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $7.00 to $12.00 in a report on Friday. Jefferies Financial Group lowered Kodiak Sciences from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, JPMorgan Chase & Co. cut Kodiak Sciences from a “neutral” rating to an “underweight” rating in a research report on Monday, July 24th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in Kodiak Sciences in the second quarter worth $151,000. Bank of Montreal Can purchased a new position in shares of Kodiak Sciences in the second quarter valued at $1,885,000. Martingale Asset Management L P increased its position in shares of Kodiak Sciences by 43.6% in the first quarter. Martingale Asset Management L P now owns 60,637 shares of the company’s stock valued at $376,000 after buying an additional 18,424 shares in the last quarter. Creative Planning purchased a new position in shares of Kodiak Sciences in the second quarter valued at $107,000. Finally, Jump Financial LLC increased its position in shares of Kodiak Sciences by 116.2% in the first quarter. Jump Financial LLC now owns 68,100 shares of the company’s stock valued at $422,000 after buying an additional 36,608 shares in the last quarter. Hedge funds and other institutional investors own 80.99% of the company’s stock.

Kodiak Sciences Trading Down 5.0 %

NASDAQ:KOD opened at $1.92 on Friday. The firm has a market cap of $100.74 million, a P/E ratio of -0.37 and a beta of 1.79. The stock’s 50 day simple moving average is $1.84 and its 200-day simple moving average is $4.11. Kodiak Sciences has a 12-month low of $1.37 and a 12-month high of $9.80.

Kodiak Sciences (NASDAQ:KOD) last released its earnings results on Monday, August 14th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.30). Research analysts forecast that Kodiak Sciences will post -5.2 EPS for the current fiscal year.

Kodiak Sciences Company Profile

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.