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

Kodiak Sciences Inc. (NASDAQ:KOD) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,540,000 shares, a drop of 10.5% from the September 15th total of 1,720,000 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 200,200 shares, the days-to-cover ratio is currently 7.7 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “neutral” rating and issued a $3.00 price target on shares of Kodiak Sciences in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.00.

Kodiak Sciences Trading Down 0.3 %

NASDAQ KOD opened at $2.88 on Wednesday. The firm has a market cap of $151.30 million, a price-to-earnings ratio of -0.65 and a beta of 2.34. Kodiak Sciences has a 1-year low of $1.37 and a 1-year high of $7.77. The company has a 50 day moving average of $2.60 and a 200-day moving average of $2.98.

Kodiak Sciences (NASDAQ:KOD) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.86) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.01. On average, analysts forecast that Kodiak Sciences will post -3.52 earnings per share for the current year.

Institutional Trading of Kodiak Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Kodiak Sciences in the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. bought a new stake in shares of Kodiak Sciences during the second quarter valued at approximately $36,000. Sanctuary Advisors LLC acquired a new stake in shares of Kodiak Sciences in the second quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of Kodiak Sciences in the first quarter valued at approximately $50,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Kodiak Sciences in the 1st quarter worth approximately $68,000. 89.06% of the stock is currently owned by institutional investors and hedge funds.

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.