Kodiak Sciences (NASDAQ:KOD) Sets New 12-Month Low at $65.00

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $65.00 and last traded at $65.20, with a volume of 399737 shares changing hands. The stock had previously closed at $67.41.

KOD has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on shares of Kodiak Sciences from $104.00 to $114.00 and gave the company a “market perform” rating in a research report on Friday, November 12th. Citigroup raised their price objective on shares of Kodiak Sciences from $103.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, November 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kodiak Sciences presently has a consensus rating of “Hold” and a consensus target price of $128.63.

The company has a market capitalization of $3.37 billion, a PE ratio of -15.04 and a beta of 1.40. The stock’s fifty day simple moving average is $90.48 and its 200-day simple moving average is $95.04.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Tuesday, November 9th. The company reported ($1.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.16) by ($0.14). Analysts expect that Kodiak Sciences Inc. will post -4.43 earnings per share for the current fiscal year.

In other Kodiak Sciences news, insider Jason Ehrlich sold 6,950 shares of Kodiak Sciences stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $99.15, for a total value of $689,092.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John A. Borgeson sold 876 shares of Kodiak Sciences stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $115.42, for a total transaction of $101,107.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,726 shares of company stock valued at $2,175,822. Corporate insiders own 39.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC grew its stake in Kodiak Sciences by 61.3% in the 3rd quarter. Perceptive Advisors LLC now owns 461,248 shares of the company’s stock worth $44,271,000 after acquiring an additional 175,207 shares during the period. Bank of New York Mellon Corp grew its stake in Kodiak Sciences by 8.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 137,746 shares of the company’s stock worth $13,221,000 after acquiring an additional 10,194 shares during the period. BNP Paribas Arbitrage SA grew its stake in Kodiak Sciences by 387.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,017 shares of the company’s stock worth $578,000 after acquiring an additional 4,783 shares during the period. Janus Henderson Group PLC grew its stake in Kodiak Sciences by 0.8% in the 3rd quarter. Janus Henderson Group PLC now owns 335,382 shares of the company’s stock worth $32,190,000 after acquiring an additional 2,681 shares during the period. Finally, Two Sigma Advisers LP grew its stake in Kodiak Sciences by 13.7% in the 3rd quarter. Two Sigma Advisers LP now owns 128,800 shares of the company’s stock worth $12,362,000 after acquiring an additional 15,500 shares during the period. 87.00% of the stock is owned by hedge funds and other institutional investors.

About Kodiak Sciences (NASDAQ:KOD)

Kodiak Sciences, Inc is a clinical-stage biopharmaceutical company. The firm engages in the development of novel therapies for the treatment of retinal diseases. Its product pipeline includes KSI-301 for wet AMD; KSI-301 for diabetic eye disease; KSI-501 for DME and uveitis; KSI-201 for resistant wet AMD; and KSI-401 for dry AMD.

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