Kodiak Sciences (NASDAQ:KOD) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS
Kodiak Sciences reported a quarterly loss of $1.16 per share, missing the consensus estimate by $0.09. Despite the earnings miss, the stock rose 3.4% to $19.51. Institutional investors have increased their holdings, and analysts have mixed ratings on the stock, with a consensus rating of 'Hold' and an average price target of $22.33.
Kodiak Sciences (NASDAQ:KOD - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.07) by ($0.09), FiscalAI reports.
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Kodiak Sciences Trading Up 3.4%
KOD traded up $0.64 during mid-day trading on Friday, hitting $19.51. 684,230 shares of the stock were exchanged, compared to its average volume of 916,419. The firm's fifty day moving average is $15.15 and its two-hundred day moving average is $8.96. Kodiak Sciences has a 1-year low of $1.92 and a 1-year high of $21.17. The company has a market cap of $1.03 billion, a PE ratio of -4.74 and a beta of 2.88.
Institutional Trading of Kodiak Sciences
Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in Kodiak Sciences by 75.2% in the third quarter. Russell Investments Group Ltd. now owns 35,957 shares of the company's stock valued at $589,000 after acquiring an additional 15,431 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Kodiak Sciences by 7.0% during the third quarter. Vanguard Group Inc. now owns 1,950,292 shares of the company's stock worth $31,926,000 after purchasing an additional 127,991 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Kodiak Sciences by 8.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 101,900 shares of the company's stock valued at $380,000 after purchasing an additional 7,700 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Kodiak Sciences by 55.1% in the 2nd 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 purchasing an additional 730,000 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Kodiak Sciences by 171.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 266,354 shares of the company's stock worth $994,000 after buying an additional 168,192 shares during the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Kodiak Sciences from a "hold" rating to a "sell" rating in a research report on Saturday, October 11th. Lifesci Capital initiated coverage on shares of Kodiak Sciences in a research note on Thursday, October 23rd. They set an "outperform" rating and a $40.00 price objective for the company. Chardan Capital reissued a "neutral" rating and issued a $14.00 target price on shares of Kodiak Sciences in a research note on Monday, October 6th. Weiss Ratings restated a "sell (e+)" rating on shares of Kodiak Sciences in a report on Wednesday, October 8th. Finally, Jefferies Financial Group initiated coverage on Kodiak Sciences in a report on Monday, September 22nd. They issued a "buy" rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $22.33.
View Our Latest Stock Report on KOD
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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