Kodiak Sciences Inc. (NASDAQ:KOD) Sees Significant Growth in Short Interest

Kodiak Sciences Inc. (NASDAQ:KOD) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 2,040,000 shares, an increase of 19.3% from the January 15th total of 1,710,000 shares. Currently, 4.2% of the company’s shares are short sold. Based on an average trading volume of 456,800 shares, the short-interest ratio is currently 4.5 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, December 9th. HC Wainwright reiterated a “neutral” rating and set a $3.00 target price on shares of Kodiak Sciences in a report on Friday, November 15th. Finally, Barclays boosted their price target on Kodiak Sciences from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Friday, November 15th.

Kodiak Sciences Stock Up 3.1 %

Shares of KOD stock opened at $5.26 on Monday. Kodiak Sciences has a 12 month low of $2.18 and a 12 month high of $11.60. The company’s fifty day simple moving average is $7.99 and its 200-day simple moving average is $5.18. The firm has a market cap of $276.80 million, a PE ratio of -1.44 and a beta of 2.06.

Institutional Investors Weigh In On Kodiak Sciences

Several large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in Kodiak Sciences by 1,501.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company’s stock worth $32,000 after buying an additional 2,988 shares during the last quarter. LJI Wealth Management LLC increased its stake in shares of Kodiak Sciences by 21.3% during the 3rd quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock worth $45,000 after purchasing an additional 3,000 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Kodiak Sciences by 6.2% in the 4th quarter. American Century Companies Inc. now owns 59,967 shares of the company’s stock valued at $597,000 after purchasing an additional 3,515 shares during the period. US Bancorp DE bought a new stake in shares of Kodiak Sciences in the 4th quarter valued at about $40,000. Finally, Bank of New York Mellon Corp lifted its stake in Kodiak Sciences by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 98,102 shares of the company’s stock valued at $976,000 after purchasing an additional 4,927 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.