Short Interest in Kodiak Sciences Inc. (NASDAQ:KOD) Expands By 8.1%

Kodiak Sciences Inc. (NASDAQ:KOD) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,460,000 shares, an increase of 8.1% from the December 31st total of 1,350,000 shares. Based on an average daily volume of 419,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 3.0% of the company’s shares are short sold.

Institutional Investors Weigh In On Kodiak Sciences

Several large investors have recently modified their holdings of KOD. SG Americas Securities LLC bought a new position in Kodiak Sciences during the 3rd quarter worth $33,000. Sanctuary Advisors LLC acquired a new stake in shares of Kodiak Sciences during the second quarter worth $36,000. LJI Wealth Management LLC lifted its holdings in shares of Kodiak Sciences by 21.3% in the third quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock valued at $45,000 after purchasing an additional 3,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in Kodiak Sciences by 220.9% during the third quarter. JPMorgan Chase & Co. now owns 44,648 shares of the company’s stock worth $117,000 after buying an additional 30,735 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Kodiak Sciences during the second quarter worth approximately $127,000. 89.06% of the stock is owned by institutional investors and hedge funds.

Kodiak Sciences Trading Down 9.1 %

KOD opened at $5.82 on Tuesday. The firm has a market capitalization of $306.27 million, a PE ratio of -1.59 and a beta of 2.11. The firm has a 50 day moving average of $8.30 and a two-hundred day moving average of $5.01. Kodiak Sciences has a 12-month low of $2.18 and a 12-month high of $11.60.

Analyst Upgrades and Downgrades

KOD has been the topic of a number of research reports. Barclays boosted 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 reissued 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 price objective for the company in a research report on Monday, December 9th.

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.