Kodiak Sciences (NASDAQ:KOD) Sets New 1-Year High – Should You Buy?

Kodiak Sciences Inc. (NASDAQ:KOD) reached a new 52-week high during trading on Monday . The company traded as high as $11.60 and last traded at $11.15, with a volume of 621353 shares. The stock had previously closed at $7.83.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KOD. Jefferies Financial Group raised shares of Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday. Barclays lifted their target price on shares of Kodiak Sciences from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $3.00 price target on shares of Kodiak Sciences in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.80.

Kodiak Sciences Stock Up 30.8 %

The firm’s fifty day moving average price is $4.56 and its 200 day moving average price is $3.35. The stock has a market cap of $538.83 million, a PE ratio of -2.74 and a beta of 2.38.

Institutional Investors Weigh In On Kodiak Sciences

Large investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Kodiak Sciences during the third quarter valued at $751,000. Acadian Asset Management LLC increased its holdings in shares of Kodiak Sciences by 14.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,965,449 shares of the company’s stock worth $4,614,000 after buying an additional 242,559 shares during the last quarter. Sei Investments Co. raised its position in shares of Kodiak Sciences by 27.1% during the 2nd quarter. Sei Investments Co. now owns 143,841 shares of the company’s stock valued at $338,000 after buying an additional 30,683 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Kodiak Sciences by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,654,448 shares of the company’s stock valued at $8,702,000 after buying an additional 10,978 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Kodiak Sciences in the 3rd quarter valued at about $33,000. 89.06% of the stock is owned by institutional investors.

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.