Kodiak Sciences’ (KOD) Neutral Rating Reaffirmed at HC Wainwright

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “neutral” rating reaffirmed by HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 19.52% from the stock’s current price.

Kodiak Sciences Stock Down 4.9 %

NASDAQ:KOD opened at $2.51 on Tuesday. Kodiak Sciences has a 52 week low of $1.37 and a 52 week high of $7.77. The stock’s fifty day moving average is $2.68 and its two-hundred day moving average is $3.36. The company has a market capitalization of $131.86 million, a P/E ratio of -0.57 and a beta of 2.35.

Kodiak Sciences (NASDAQ:KOD) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.01. Sell-side analysts anticipate that Kodiak Sciences will post -3.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kodiak Sciences

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its stake in Kodiak Sciences by 14.1% during the second 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. Renaissance Technologies LLC boosted its holdings in Kodiak Sciences by 21.9% during the 2nd quarter. Renaissance Technologies LLC now owns 708,800 shares of the company’s stock valued at $1,666,000 after acquiring an additional 127,400 shares during the period. Sei Investments Co. acquired a new position in Kodiak Sciences in the 1st quarter valued at about $595,000. RIA Advisory Group LLC purchased a new stake in Kodiak Sciences during the first quarter worth about $489,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Kodiak Sciences during the second quarter worth about $207,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

About Kodiak Sciences

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.