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

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “neutral” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s price objective points to a potential downside of 43.40% from the stock’s current price.

Kodiak Sciences Stock Performance

NASDAQ:KOD opened at $5.30 on Friday. Kodiak Sciences has a fifty-two week low of $1.86 and a fifty-two week high of $7.77. The company has a market cap of $278.86 million, a price-to-earnings ratio of -1.41 and a beta of 2.26. The stock has a fifty day moving average price of $3.29 and a 200-day moving average price of $3.03.

Kodiak Sciences (NASDAQ:KOD) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.86) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.01. Research analysts predict that Kodiak Sciences will post -3.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its holdings in Kodiak Sciences by 14.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,965,449 shares of the company’s stock worth $4,614,000 after purchasing an additional 242,559 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Kodiak Sciences in the 1st quarter valued at approximately $86,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Kodiak Sciences in the 1st quarter worth about $68,000. Sei Investments Co. grew its stake in Kodiak Sciences by 27.1% during the second quarter. Sei Investments Co. now owns 143,841 shares of the company’s stock valued at $338,000 after acquiring an additional 30,683 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Kodiak Sciences by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,654,448 shares of the company’s stock worth $8,702,000 after purchasing an additional 10,978 shares during the period. 89.06% of the stock is 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.