Kodiak Sciences Inc. (NASDAQ:KOD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Kodiak Sciences Inc. (NASDAQ:KOD) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $28.2857.

Several equities analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Kodiak Sciences in a research report on Tuesday, February 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. Chardan Capital reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Kodiak Sciences in a research note on Monday, November 17th. Finally, UBS Group started coverage on shares of Kodiak Sciences in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company.

Insider Buying and Selling at Kodiak Sciences

In related news, Director Bros. Advisors Lp Baker purchased 2,608,696 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was purchased at an average price of $23.00 per share, with a total value of $60,000,008.00. Following the completion of the purchase, the director owned 18,358,772 shares of the company’s stock, valued at approximately $422,251,756. The trade was a 16.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 45.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. bought a new stake in Kodiak Sciences during the 4th quarter valued at $11,440,000. Invesco Ltd. grew its position in shares of Kodiak Sciences by 454.1% during the 4th quarter. Invesco Ltd. now owns 555,073 shares of the company’s stock worth $15,520,000 after buying an additional 454,894 shares in the last quarter. Ikarian Capital LLC increased its stake in shares of Kodiak Sciences by 73.9% during the fourth quarter. Ikarian Capital LLC now owns 719,787 shares of the company’s stock valued at $20,125,000 after buying an additional 305,946 shares during the period. Virtus Investment Advisers LLC bought a new stake in shares of Kodiak Sciences in the fourth quarter valued at about $312,000. Finally, Wellington Management Group LLP lifted its stake in Kodiak Sciences by 304.7% in the fourth quarter. Wellington Management Group LLP now owns 473,796 shares of the company’s stock worth $13,247,000 after acquiring an additional 356,737 shares during the period. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Stock Performance

Shares of NASDAQ KOD opened at $26.80 on Monday. The business’s 50 day moving average price is $26.07 and its 200-day moving average price is $19.73. Kodiak Sciences has a fifty-two week low of $1.92 and a fifty-two week high of $31.18. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -6.50 and a beta of 2.61.

Kodiak Sciences Company Profile

Kodiak Sciences, Inc is a clinical‐stage biopharmaceutical company headquartered in Palo Alto, California, that focuses on the discovery and development of novel therapies for retinal diseases. The company’s proprietary technology centers on antibody biopolymer conjugates (ABCs), which are designed to extend durability, enhance tissue penetration and improve the safety profile of existing therapeutic modalities. Kodiak’s research and development efforts target conditions such as wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and other serious ophthalmic disorders.

The lead product candidate in Kodiak’s pipeline is KSI-301, an anti-VEGF antibody biopolymer conjugate administered via intravitreal injection.