Kodiak Sciences (NASDAQ:KOD) Shares Gap Down – Should You Sell?

Kodiak Sciences Inc. (NASDAQ:KOD)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $10.00, but opened at $9.79. Kodiak Sciences shares last traded at $9.87, with a volume of 16,152 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on KOD shares. HC Wainwright reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Kodiak Sciences in a research note on Friday, November 15th. Barclays upped their price objective on shares of Kodiak Sciences from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Kodiak Sciences has an average rating of “Hold” and a consensus target price of $6.80.

Kodiak Sciences Stock Performance

The stock’s 50 day moving average is $4.86 and its two-hundred day moving average is $3.45. The stock has a market capitalization of $486.77 million, a PE ratio of -2.56 and a beta of 2.38.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in Kodiak Sciences by 65.5% in the 3rd quarter. Barclays PLC now owns 79,658 shares of the company’s stock valued at $208,000 after acquiring an additional 31,527 shares during the last quarter. Geode Capital Management LLC lifted its position in Kodiak Sciences by 1.7% during the third quarter. Geode Capital Management LLC now owns 768,740 shares of the company’s stock worth $2,007,000 after buying an additional 12,783 shares in the last quarter. State Street Corp boosted its stake in Kodiak Sciences by 1.8% during the third quarter. State Street Corp now owns 816,634 shares of the company’s stock worth $2,131,000 after buying an additional 14,711 shares during the last quarter. FMR LLC boosted its position in shares of Kodiak Sciences by 26.4% during the 3rd quarter. FMR LLC now owns 200,971 shares of the company’s stock valued at $525,000 after acquiring an additional 41,987 shares during the last quarter. Finally, LJI Wealth Management LLC boosted its holdings in Kodiak Sciences by 21.3% in the 3rd 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 during the last quarter. 89.06% of the stock is owned by institutional investors and hedge funds.

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.