HC Wainwright Reaffirms “Neutral” Rating for Kodiak Sciences (NASDAQ:KOD)

Kodiak Sciences (NASDAQ:KOD)‘s stock had its “neutral” rating restated by stock analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $3.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 15.38% from the company’s previous close.

Kodiak Sciences Stock Performance

Shares of KOD opened at $2.60 on Tuesday. The firm has a market cap of $136.81 million, a PE ratio of -0.59 and a beta of 2.35. Kodiak Sciences has a 52-week low of $1.37 and a 52-week high of $7.77. The business’s 50 day moving average price is $2.67 and its two-hundred day moving average price is $3.33.

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

Institutional Trading of Kodiak Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KOD. Aristides Capital LLC acquired a new stake in Kodiak Sciences in the fourth quarter valued at approximately $173,000. Diversified Trust Co bought a new position in shares of Kodiak Sciences in the first quarter valued at $83,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Kodiak Sciences in the 1st quarter valued at about $68,000. RIA Advisory Group LLC acquired a new position in Kodiak Sciences during the 1st quarter valued at about $489,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Kodiak Sciences during the first quarter worth $236,000. 89.06% of the stock is owned by institutional investors.

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.