Kodiak Sciences (NASDAQ:KOD) Earns Neutral Rating from HC Wainwright

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “neutral” rating restated by research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $3.00 price target on the stock. HC Wainwright’s price target would suggest a potential downside of 45.75% from the company’s current price.

Kodiak Sciences Trading Up 4.3 %

NASDAQ:KOD opened at $5.53 on Friday. The company has a 50-day moving average of $3.36 and a 200-day moving average of $3.05. The firm has a market cap of $290.99 million, a price-to-earnings ratio of -1.52 and a beta of 2.26. Kodiak Sciences has a twelve month low of $1.89 and a twelve month high of $7.77.

Kodiak Sciences (NASDAQ:KOD) last issued its earnings results on Wednesday, August 14th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.01. On average, research analysts forecast that Kodiak Sciences will post -3.52 earnings per share for the current year.

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds have recently modified their holdings of KOD. SG Americas Securities LLC purchased a new stake in shares of Kodiak Sciences during the third quarter valued at $33,000. Meeder Asset Management Inc. acquired a new stake in Kodiak Sciences during the 2nd quarter worth about $36,000. Sanctuary Advisors LLC purchased a new stake in Kodiak Sciences during the second quarter valued at about $36,000. LJI Wealth Management LLC boosted its holdings in shares of Kodiak Sciences by 21.3% in the third quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock worth $45,000 after buying an additional 3,000 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Kodiak Sciences in the first quarter worth approximately $50,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.