Kodiak Sciences (NASDAQ:KOD) Trading 6.7% Higher - Still a Buy?

Shares of Kodiak Sciences Inc. (NASDAQ:KOD - Get Free Report) were up 6.7% during mid-day trading on Tuesday . The stock traded as high as $9.88 and last traded at $9.87. Approximately 253,545 shares changed hands during trading, a decline of 47% from the average daily volume of 477,613 shares. The stock had previously closed at $9.25.

Analysts Set New Price Targets

KOD has been the topic of a number of analyst reports. HC Wainwright restated a "neutral" rating and set a $3.00 target price on shares of Kodiak Sciences in a research report on Friday, November 15th. Barclays increased their target price on Kodiak Sciences from $3.00 to $4.00 and gave the company an "underweight" rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group upgraded shares of Kodiak Sciences from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research report on Monday, December 9th.

Kodiak Sciences Stock Up 6.7 %

The firm has a market cap of $519.40 million, a PE ratio of -2.70 and a beta of 2.38. The firm has a 50-day moving average price of $5.94 and a two-hundred day moving average price of $3.81.

Hedge Funds Weigh In On Kodiak Sciences

Several hedge funds and other institutional investors have recently modified their holdings of KOD. SG Americas Securities LLC acquired a new position in Kodiak Sciences during the third quarter worth $33,000. Meeder Asset Management Inc. acquired a new position in shares of Kodiak Sciences during the 2nd quarter valued at about $36,000. Sanctuary Advisors LLC purchased a new stake in shares of Kodiak Sciences in the second quarter valued at about $36,000. LJI Wealth Management LLC increased its position in Kodiak Sciences by 21.3% during the third 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. Finally, Squarepoint Ops LLC acquired a new position in Kodiak Sciences in the 2nd quarter valued at about $127,000. 89.06% of the stock is owned by hedge funds and other institutional investors.

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.