Kodiak Sciences (NASDAQ:KOD) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Kodiak Sciences (NASDAQ:KOD) issued its quarterly earnings results on Tuesday. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02), FiscalAI reports.

Kodiak Sciences Stock Performance

Kodiak Sciences stock opened at $42.81 on Thursday. Kodiak Sciences has a 52 week low of $1.92 and a 52 week high of $45.60. The stock has a market capitalization of $2.27 billion, a P/E ratio of -9.91 and a beta of 2.61. The stock has a fifty day moving average of $25.82 and a 200-day moving average of $22.49.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KOD shares. HC Wainwright reaffirmed a “buy” rating and set a $58.00 price objective (up from $38.00) on shares of Kodiak Sciences in a research report on Friday, March 27th. UBS Group boosted their target price on shares of Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kodiak Sciences in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.43.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KOD. Cerity Partners LLC lifted its holdings in shares of Kodiak Sciences by 7.4% in the fourth quarter. Cerity Partners LLC now owns 16,446 shares of the company’s stock worth $460,000 after acquiring an additional 1,139 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Kodiak Sciences by 89.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock valued at $104,000 after purchasing an additional 3,009 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Kodiak Sciences during the 4th quarter worth approximately $119,000. Deutsche Bank AG increased its position in Kodiak Sciences by 14.9% during the 4th quarter. Deutsche Bank AG now owns 35,317 shares of the company’s stock worth $987,000 after purchasing an additional 4,593 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Kodiak Sciences by 6.3% in the 2nd quarter. American Century Companies Inc. now owns 79,745 shares of the company’s stock valued at $297,000 after purchasing an additional 4,703 shares during the last quarter. Institutional investors 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.