Kodiak Sciences (NASDAQ:KOD) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS
by Danessa Lincoln · The Markets DailyKodiak Sciences (NASDAQ:KOD – Get Free Report) announced its quarterly earnings data 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 Trading Up 13.3%
NASDAQ KOD traded up $4.46 on Tuesday, reaching $38.12. The stock had a trading volume of 2,556,370 shares, compared to its average volume of 1,578,470. The business has a 50 day moving average price of $25.50 and a 200 day moving average price of $22.35. Kodiak Sciences has a 1 year low of $1.92 and a 1 year high of $45.60. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -9.25 and a beta of 2.61.
Institutional Investors Weigh In On Kodiak Sciences
Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC grew its stake in shares of Kodiak Sciences by 256.4% in the 2nd quarter. Headlands Technologies LLC now owns 8,083 shares of the company’s stock valued at $30,000 after buying an additional 5,815 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Kodiak Sciences in the first quarter valued at approximately $94,000. BNP Paribas Financial Markets lifted its stake in Kodiak Sciences by 89.4% in the third quarter. BNP Paribas Financial Markets now owns 6,373 shares of the company’s stock valued at $104,000 after acquiring an additional 3,009 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Kodiak Sciences in the fourth quarter worth approximately $119,000. Finally, Jane Street Group LLC grew its position in Kodiak Sciences by 441.3% in the first quarter. Jane Street Group LLC now owns 64,649 shares of the company’s stock worth $181,000 after acquiring an additional 52,705 shares in the last quarter. 89.06% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on KOD. UBS Group upped their target price on Kodiak Sciences from $50.00 to $80.00 and gave the company a “buy” rating in a report on Friday. HC Wainwright restated a “buy” rating and set a $58.00 price target (up from $38.00) on shares of Kodiak Sciences in a report on Friday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Kodiak Sciences in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Kodiak Sciences has an average rating of “Moderate Buy” and a consensus target price of $35.43.
Read Our Latest Stock Report on Kodiak Sciences
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.