Kodiak Sciences (NASDAQ:KOD) Upgraded to "Buy" at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Kodiak Sciences (NASDAQ:KOD - Free Report) from a hold rating to a buy rating in a research note released on Monday morning, Marketbeat reports. The firm currently has $20.00 price objective on the stock.

A number of other equities research analysts have also issued reports on KOD. HC Wainwright reissued a "neutral" rating and issued a $3.00 price target on shares of Kodiak Sciences in a report on Friday, November 15th. Barclays increased their price objective on Kodiak Sciences from $3.00 to $4.00 and gave the stock an "underweight" rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Kodiak Sciences currently has an average rating of "Hold" and a consensus target price of $6.80.

Kodiak Sciences Stock Performance

KOD stock traded up $2.32 during trading on Monday, hitting $10.15. 1,983,089 shares of the company traded hands, compared to its average volume of 477,932. Kodiak Sciences has a 1 year low of $2.18 and a 1 year high of $11.60. The company has a 50-day moving average of $4.56 and a 200-day moving average of $3.35. The firm has a market capitalization of $534.09 million, a PE ratio of -2.74 and a beta of 2.38.

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds have recently made changes to their positions in the company. LJI Wealth Management LLC boosted its holdings 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 valued at $45,000 after buying an additional 3,000 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Kodiak Sciences by 18.5% in the 2nd quarter. American Century Companies Inc. now owns 54,323 shares of the company's stock worth $128,000 after purchasing an additional 8,470 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Kodiak Sciences by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,654,448 shares of the company's stock worth $8,702,000 after buying an additional 10,978 shares during the last quarter. Geode Capital Management LLC increased its position in Kodiak Sciences by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 768,740 shares of the company's stock valued at $2,007,000 after buying an additional 12,783 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Kodiak Sciences during the third quarter valued at $33,000. 89.06% of the stock is currently owned by 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.