Kodiak Sciences (NASDAQ:KOD) Given New $4.00 Price Target at Barclays

Kodiak Sciences (NASDAQ:KOD - Get Free Report) had its price target upped by Barclays from $3.00 to $4.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's target price would suggest a potential downside of 27.67% from the stock's current price.

Separately, HC Wainwright reiterated a "neutral" rating and set a $3.00 price target on shares of Kodiak Sciences in a research note on Friday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.20.

Kodiak Sciences Price Performance

Shares of NASDAQ:KOD traded up $0.23 during trading hours on Friday, hitting $5.53. The company's stock had a trading volume of 596,695 shares, compared to its average volume of 478,590. The firm's fifty day moving average price is $3.29 and its 200 day moving average price is $3.03. Kodiak Sciences has a 52 week low of $1.89 and a 52 week high of $7.77. The company has a market capitalization of $290.96 million, a price-to-earnings ratio of -1.43 and a beta of 2.26.

Kodiak Sciences (NASDAQ:KOD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.86) earnings per share for the quarter, topping analysts' consensus estimates of ($0.87) by $0.01. On average, equities research analysts predict that Kodiak Sciences will post -3.52 earnings per share for the current fiscal year.

Institutional Trading of Kodiak Sciences

A number of institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Kodiak Sciences in the third quarter valued at approximately $751,000. Acadian Asset Management LLC grew its holdings in Kodiak Sciences by 14.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,965,449 shares of the company's stock valued at $4,614,000 after buying an additional 242,559 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Kodiak Sciences by 21.9% in the 2nd quarter. Renaissance Technologies LLC now owns 708,800 shares of the company's stock worth $1,666,000 after acquiring an additional 127,400 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Kodiak Sciences during the 1st quarter worth $595,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Kodiak Sciences during the 2nd quarter valued at about $207,000. 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.