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

Kodiak Sciences Inc. (NASDAQ:KOD) saw a large increase in short interest in 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. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily volume of 419,000 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Upgrades and Downgrades

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

Kodiak Sciences Stock Down 9.1 %

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

Institutional Investors Weigh In On Kodiak Sciences

Several hedge funds have recently modified their holdings of KOD. Peapod Lane Capital LLC purchased a new position in shares of Kodiak Sciences in the 4th quarter worth about $1,660,000. SG Americas Securities LLC lifted its stake in shares of Kodiak Sciences by 61.4% in the 4th quarter. SG Americas Securities LLC now owns 20,684 shares of the company’s stock valued at $206,000 after acquiring an additional 7,871 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Kodiak Sciences by 220.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 44,648 shares of the company’s stock valued at $117,000 after acquiring an additional 30,735 shares during the last quarter. Barclays PLC lifted its stake in shares of Kodiak Sciences by 65.5% in the 3rd quarter. Barclays PLC now owns 79,658 shares of the company’s stock valued at $208,000 after acquiring an additional 31,527 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Kodiak Sciences by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 768,740 shares of the company’s stock valued at $2,007,000 after acquiring an additional 12,783 shares during the last quarter. Institutional investors and hedge funds own 89.06% of the company’s stock.

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.