Kodiak Sciences (NASDAQ:KOD) Sets New 12-Month High – Here’s What Happened

Kodiak Sciences Inc. (NASDAQ:KOD) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $36.84 and last traded at $36.0160, with a volume of 3075248 shares. The stock had previously closed at $22.75.

Analysts Set New Price Targets

A number of brokerages recently commented on KOD. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Kodiak Sciences in a research note on Tuesday, February 10th. UBS Group assumed coverage on shares of Kodiak Sciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.29.

Kodiak Sciences Trading Up 62.7%

The stock has a market cap of $1.96 billion, a P/E ratio of -8.99 and a beta of 2.61. The firm has a 50-day simple moving average of $24.69 and a two-hundred day simple moving average of $21.49.

Institutional Trading of Kodiak Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Boone Capital Management LLC acquired a new position in shares of Kodiak Sciences during the 3rd quarter worth approximately $11,719,000. TD Asset Management Inc acquired a new stake in shares of Kodiak Sciences in the third quarter valued at approximately $992,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Kodiak Sciences in the third quarter valued at approximately $488,000. Panagora Asset Management Inc. boosted its stake in shares of Kodiak Sciences by 28.5% in the second quarter. Panagora Asset Management Inc. now owns 131,122 shares of the company’s stock valued at $489,000 after buying an additional 29,113 shares during the period. Finally, Vanguard Group Inc. grew its position in Kodiak Sciences by 18.6% during the fourth quarter. Vanguard Group Inc. now owns 2,313,395 shares of the company’s stock worth $64,683,000 after buying an additional 363,103 shares in the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

About Kodiak Sciences

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.