Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Update

Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 1,460,000 shares, an increase of 8.1% from the December 15th total of 1,350,000 shares. Approximately 3.0% of the company's shares are short sold. Based on an average daily trading volume, of 419,000 shares, the days-to-cover ratio is presently 3.5 days.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KOD. Jefferies Financial Group raised shares of 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. Barclays upped their target price on shares of Kodiak Sciences from $3.00 to $4.00 and gave the company an "underweight" rating in a research report on Friday, November 15th. Finally, HC Wainwright restated a "neutral" rating and issued a $3.00 price target on shares of Kodiak Sciences in a research report on Friday, November 15th.

Institutional Trading of Kodiak Sciences

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

Kodiak Sciences Trading Down 6.2 %

Shares of Kodiak Sciences stock traded down $0.47 during trading on Friday, reaching $7.17. The stock had a trading volume of 303,170 shares, compared to its average volume of 391,430. The company has a market capitalization of $377.29 million, a price-to-earnings ratio of -1.96 and a beta of 2.11. The stock has a fifty day moving average price of $7.94 and a two-hundred day moving average price of $4.67. Kodiak Sciences has a 52 week low of $2.18 and a 52 week high of $11.60.

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.