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

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “neutral” rating restated by research analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $3.00 price target on the stock. HC Wainwright’s price target indicates a potential downside of 43.40% from the company’s previous close.

Kodiak Sciences Stock Down 3.6 %

Shares of KOD stock opened at $5.30 on Friday. Kodiak Sciences has a 12-month low of $1.86 and a 12-month high of $7.77. The firm has a fifty day moving average of $3.29 and a 200-day moving average of $3.03. The company has a market capitalization of $278.86 million, a price-to-earnings ratio of -1.41 and a beta of 2.26.

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. On average, equities analysts expect that Kodiak Sciences will post -3.52 EPS for the current year.

Institutional Trading of Kodiak Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Kodiak Sciences in the 1st quarter valued at about $68,000. Sei Investments Co. bought a new stake in Kodiak Sciences in the first quarter valued at approximately $595,000. Headlands Technologies LLC bought a new position in shares of Kodiak Sciences during the 1st quarter worth approximately $50,000. State Board of Administration of Florida Retirement System bought a new position in shares of Kodiak Sciences during the 1st quarter worth approximately $86,000. Finally, Vanguard Group Inc. increased its holdings in shares of Kodiak Sciences by 0.7% in 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. Institutional investors and hedge funds 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.