Kodiak Sciences (NASDAQ:KOD) Shares Gap Up – Here’s Why

Kodiak Sciences Inc. (NASDAQ:KOD) shares gapped up before the market opened on Monday . The stock had previously closed at $8.65, but opened at $9.00. Kodiak Sciences shares last traded at $9.55, with a volume of 299,816 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on KOD. Barclays lifted their target price on shares of Kodiak Sciences from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. HC Wainwright reiterated a “neutral” rating and set a $3.00 target price on shares of Kodiak Sciences in a research report on Friday, November 15th. Finally, Jefferies Financial Group raised shares of Kodiak Sciences from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, December 9th.

Kodiak Sciences Stock Up 8.6 %

The firm’s 50 day simple moving average is $5.81 and its 200 day simple moving average is $3.77. The company has a market cap of $494.14 million, a price-to-earnings ratio of -2.57 and a beta of 2.38.

Institutional Trading of Kodiak Sciences

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Kodiak Sciences during the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. acquired a new position in Kodiak Sciences in the second quarter worth approximately $36,000. Sanctuary Advisors LLC bought a new position in shares of Kodiak Sciences in the second quarter valued at $36,000. LJI Wealth Management LLC lifted its position 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 acquiring an additional 3,000 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Kodiak Sciences during the 2nd quarter worth $127,000. 89.06% of the stock is owned by institutional investors and hedge funds.

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.