Kodiak Sciences Inc. (NASDAQ:KOD) Short Interest Up 19.3% in January

Kodiak Sciences Inc. (NASDAQ:KOD) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 2,040,000 shares, an increase of 19.3% from the January 15th total of 1,710,000 shares. Based on an average daily volume of 456,800 shares, the short-interest ratio is presently 4.5 days. Currently, 4.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

Kodiak Sciences Price Performance

Shares of KOD traded up $0.16 during trading hours on Friday, hitting $5.26. The stock had a trading volume of 194,877 shares, compared to its average volume of 392,843. Kodiak Sciences has a 1-year low of $2.18 and a 1-year high of $11.60. The firm has a market capitalization of $276.78 million, a P/E ratio of -1.44 and a beta of 2.06. The firm has a 50 day simple moving average of $7.99 and a 200-day simple moving average of $5.15.

Hedge Funds Weigh In On Kodiak Sciences

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Kodiak Sciences by 1,501.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company’s stock valued at $32,000 after buying an additional 2,988 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Kodiak Sciences in the 3rd quarter worth $33,000. Sanctuary Advisors LLC purchased a new stake in shares of Kodiak Sciences in the second quarter valued at about $36,000. US Bancorp DE bought a new position in shares of Kodiak Sciences during the fourth quarter valued at about $40,000. Finally, LJI Wealth Management LLC boosted its holdings in Kodiak Sciences by 21.3% during the third quarter. LJI Wealth Management LLC now owns 17,100 shares of the company’s stock worth $45,000 after purchasing an additional 3,000 shares during the last quarter. 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.