Kodiak Sciences (NASDAQ:KOD) Trading Down 2.9% – Time to Sell?

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price dropped 2.9% on Thursday . The company traded as low as $9.56 and last traded at $9.66. Approximately 44,896 shares were traded during trading, a decline of 91% from the average daily volume of 478,904 shares. The stock had previously closed at $9.95.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KOD. Barclays raised their price target on shares of Kodiak Sciences from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. HC Wainwright reiterated a “neutral” rating and issued a $3.00 price objective on shares of Kodiak Sciences in a research report on Friday, November 15th. Finally, Jefferies Financial Group upgraded shares of Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Monday, December 9th.

Kodiak Sciences Price Performance

The firm’s fifty day moving average is $7.09 and its two-hundred day moving average is $4.23. The firm has a market cap of $479.93 million, a price-to-earnings ratio of -2.50 and a beta of 2.38.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Kodiak Sciences in the third quarter worth about $33,000. Meeder Asset Management Inc. acquired a new position in shares of Kodiak Sciences in the 2nd quarter worth approximately $36,000. Sanctuary Advisors LLC bought a new stake in shares of Kodiak Sciences in the 2nd quarter worth approximately $36,000. LJI Wealth Management LLC lifted its stake in Kodiak Sciences by 21.3% during the third quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock valued at $45,000 after purchasing an additional 3,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Kodiak Sciences by 220.9% during the third quarter. JPMorgan Chase & Co. now owns 44,648 shares of the company’s stock worth $117,000 after buying an additional 30,735 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Company Profile

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.