Kodiak Sciences Inc. (NASDAQ:KOD) Sees Large Increase in Short Interest

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,460,000 shares, a growth of 8.1% from the December 31st total of 1,350,000 shares. Based on an average trading volume of 419,000 shares, the short-interest ratio is currently 3.5 days. Approximately 3.0% of the shares of the stock are short sold.

Kodiak Sciences Price Performance

Kodiak Sciences stock traded down $0.28 during trading hours on Friday, reaching $5.38. The stock had a trading volume of 450,422 shares, compared to its average volume of 425,101. The company has a fifty day simple moving average of $8.24 and a 200-day simple moving average of $5.06. Kodiak Sciences has a 52 week low of $2.18 and a 52 week high of $11.60. The stock has a market cap of $283.10 million, a PE ratio of -1.47 and a beta of 2.07.

Institutional Trading of Kodiak Sciences

Several large investors have recently modified their holdings of KOD. State Street Corp raised its position in Kodiak Sciences by 1.8% during the 3rd quarter. State Street Corp now owns 816,634 shares of the company's stock valued at $2,131,000 after purchasing an additional 14,711 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Kodiak Sciences by 1.7% during the third quarter. Geode Capital Management LLC now owns 768,740 shares of the company's stock valued at $2,007,000 after acquiring an additional 12,783 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Kodiak Sciences during the third quarter valued at approximately $751,000. FMR LLC lifted its stake in Kodiak Sciences by 26.4% in the third quarter. FMR LLC now owns 200,971 shares of the company's stock worth $525,000 after acquiring an additional 41,987 shares during the period. Finally, Peapod Lane Capital LLC bought a new stake in Kodiak Sciences in the fourth quarter valued at $1,660,000. 89.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on KOD shares. Barclays boosted their price target 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. HC Wainwright reissued a "neutral" rating and issued a $3.00 target price on shares of Kodiak Sciences in a research note 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 on the stock in a research report on Monday, December 9th.

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.