Kodiak Sciences (NASDAQ:KOD) Posts Earnings Results, Misses Estimates By $0.09 EPS

by · The Cerbat Gem

Kodiak Sciences (NASDAQ:KOD – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.09), FiscalAI reports.

Kodiak Sciences Stock Performance

Shares of KOD traded up $0.64 during midday trading on Friday, hitting $19.51. The company had a trading volume of 684,230 shares, compared to its average volume of 916,419. Kodiak Sciences has a 1 year low of $1.92 and a 1 year high of $21.17. The firm has a market capitalization of $1.03 billion, a P/E ratio of -4.74 and a beta of 2.88. The company’s 50-day simple moving average is $15.15 and its 200-day simple moving average is $8.96.

Wall Street Analyst Weigh In

KOD has been the subject of several research analyst reports. Jefferies Financial Group assumed coverage on Kodiak Sciences in a research report on Monday, September 22nd. They set a “buy” rating and a $15.00 price target for the company. Lifesci Capital assumed coverage on Kodiak Sciences in a research note on Thursday, October 23rd. They set an “outperform” rating and a $40.00 target price on the stock. Barclays raised Kodiak Sciences from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $7.00 to $17.00 in a research report on Thursday, September 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Kodiak Sciences in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised shares of Kodiak Sciences from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $24.00 in a research note on Friday, October 24th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.33.

View Our Latest Stock Analysis on Kodiak Sciences

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. lifted its position in Kodiak Sciences by 55.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,055,707 shares of the company’s stock valued at $7,668,000 after acquiring an additional 730,000 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Kodiak Sciences by 171.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 266,354 shares of the company’s stock valued at $994,000 after purchasing an additional 168,192 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Kodiak Sciences by 190.7% in the 2nd quarter. Federated Hermes Inc. now owns 244,231 shares of the company’s stock valued at $911,000 after purchasing an additional 160,225 shares during the period. Vanguard Group Inc. grew its stake in Kodiak Sciences by 7.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,950,292 shares of the company’s stock worth $31,926,000 after buying an additional 127,991 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in Kodiak Sciences by 158.9% during the 3rd quarter. Two Sigma Investments LP now owns 138,261 shares of the company’s stock worth $2,263,000 after buying an additional 84,864 shares during the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Kodiak Sciences Company Profile

(Get Free Report)

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.

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