Kodiak Sciences’ (KOD) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Kodiak Sciences (NYSE:KOD) in a research report released on Wednesday, AnalystRatings.com reports. The brokerage currently has a $40.00 price target on the stock.

Separately, Zacks Investment Research cut shares of Kodiak Sciences from a buy rating to a hold rating in a research note on Tuesday, October 29th.

NYSE KOD traded up $4.16 during trading hours on Wednesday, hitting $29.18. 494,241 shares of the company’s stock traded hands, compared to its average volume of 166,702. Kodiak Sciences has a 52-week low of $5.65 and a 52-week high of $29.47. The firm’s 50-day moving average is $19.16 and its 200-day moving average is $13.48.

Kodiak Sciences (NYSE:KOD) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.33).

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Kodiak Sciences by 209.0% during the 2nd quarter. BlackRock Inc. now owns 1,326,439 shares of the company’s stock valued at $15,520,000 after acquiring an additional 897,126 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Kodiak Sciences by 98.3% in the 2nd quarter. Vanguard Group Inc. now owns 763,472 shares of the company’s stock valued at $8,932,000 after buying an additional 378,544 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Kodiak Sciences in the 2nd quarter valued at approximately $1,418,000. Northern Trust Corp grew its stake in shares of Kodiak Sciences by 26.8% in the 2nd quarter. Northern Trust Corp now owns 111,193 shares of the company’s stock valued at $1,301,000 after buying an additional 23,475 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Kodiak Sciences by 146.9% in the 2nd quarter. Marshall Wace LLP now owns 97,764 shares of the company’s stock valued at $1,144,000 after buying an additional 58,173 shares during the period.

About Kodiak Sciences

Kodiak Sciences Inc, a clinical stage biopharmaceutical company, provides novel therapeutics to treat ophthalmic diseases. The company's lead product candidate is KSI-301, a vascular endothelial growth factor (VEGF)-biologic that is in Phase I clinical study to treat wet age-related macular degeneration (AMD) and diabetic retinopathy.

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