Short Interest in Kodiak Sciences Inc. (NASDAQ:KOD) Rises By 8.1%

Kodiak Sciences Inc. (NASDAQ:KOD) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 1,460,000 shares, a growth of 8.1% from the December 15th total of 1,350,000 shares. Based on an average trading volume of 419,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 3.0% of the company’s stock are short sold.

Kodiak Sciences Price Performance

NASDAQ:KOD opened at $7.17 on Monday. Kodiak Sciences has a one year low of $2.18 and a one year high of $11.60. The business has a fifty day moving average price of $7.94 and a 200-day moving average price of $4.67. The firm has a market capitalization of $377.29 million, a price-to-earnings ratio of -1.96 and a beta of 2.11.

Institutional Trading of Kodiak Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Kodiak Sciences during the 3rd quarter valued at about $33,000. Sanctuary Advisors LLC bought a new stake in Kodiak Sciences during the 2nd quarter worth approximately $36,000. LJI Wealth Management LLC lifted its holdings in Kodiak Sciences by 21.3% during the third quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock valued at $45,000 after purchasing an additional 3,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Kodiak Sciences by 220.9% in the third quarter. JPMorgan Chase & Co. now owns 44,648 shares of the company’s stock worth $117,000 after purchasing an additional 30,735 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Kodiak Sciences in the second quarter worth $127,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.