Kodiak Sciences Inc. (NASDAQ: KOD) Is Getting Increasingly Hard To Ignore


    Baker Bros. Advisors LP recently announced the acquisition of new stake in Kodiak Sciences Inc. (NASDAQ:KOD). The institutional investor has increased its shareholding in the Healthcare company by 4.77% to 11.57 million shares with purchase of 0.53 million shares. This fresh investment now brings its stake to 26.02% valued currently at $626.41 million. In addition, T. Rowe Price Associates, Inc. (I. raised its holdings by 0.48 million to 4.55 million shares. And BlackRock Fund Advisors has lifted its position by 11.15% or 0.21 million shares – to 2.09 million shares.

    With over 0.22 million Kodiak Sciences Inc. (KOD) shares trading Wednesday and a closing price of $51.48 on the day, the dollar volume was approximately $11.51 million. The shares have shown a negative weekly performance of -0.35% and its price on 07/15/20 gained nearly 5.56%. Currently, there are 44.83M common shares owned by the public and among those 33.63M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for KOD have a consensus price objective of $82.13. The analysts have set the share’s price value over the next 12 months at a high of $115.00 and a low of $63.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Kodiak Sciences Inc. stock is 2.00 for the next 12 months. The average price target is 38.12% above its last price level and an upside to the estimated low will see the stock gain 18.29% over that period. But an upside of 55.23% will see the stock hit the forecast high price target while mean target price for the stock is $78.00.

    Insiders at the company have transacted a total of 81 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 51 of these insider trades were purchases, accounting for 2,449,164 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 54,591 shares.

    The top 3 mutual fund holders in Kodiak Sciences Inc. are T Rowe Price New Horizons Fund, T Rowe Price Health Sciences Fund, and Vanguard Total Stock Market Index. T Rowe Price New Horizons Fund owns 1.3 million shares of the company’s stock, all valued at over $70.36 million. The company bought an additional 24700.0 shares recently to bring their total holdings to about 2.92% of the shares outstanding. T Rowe Price Health Sciences Fund sold -0.16 million shares to see its total holdings shrink to 1.11 million shares valued at over $60.05 million and representing 2.49% of the shares outstanding. Vanguard Total Stock Market Index sold 8104.0 shares to bring its total holdings to over 0.74 million shares at a value of $40.04 million. Vanguard Total Stock Market Index now owns shares totaling to 1.66% of the shares outstanding.

    Shares of Kodiak Sciences Inc. (NASDAQ: KOD) opened at $50.20, up $1.43 from a prior closing price of $48.77. However, the script later closed the day at $51.48, up 5.56%. The company’s stock has a 5-day price change of -0.35% and 3.00% over the past three months. KOD shares are trading -28.45% year to date (YTD), with the 12-month market performance up to 261.77% higher. It has a 12-month low price of $9.47 and touched a high of $82.75 over the same period. Currently, 0.22 million shares have been traded, compared to an average intraday trading volume of 312.74K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.95%, -11.52%, and 2.10% respectively.

    Institutional ownership of Kodiak Sciences Inc. (NASDAQ: KOD) shares accounts for 83.20% of the company’s 44.83M shares outstanding. Mutual fund holders own 36.10%, while other institutional holders and individual stakeholders account for 55.55% and 26.71% respectively.

    It has a market capitalization of $2.32B. The earnings-per-share (ttm) stands at -$1.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.45% over the week and 7.35% over the month.

    Analysts forecast that Kodiak Sciences Inc. (KOD) will achieve an EPS of -$0.65 for the current quarter, -$0.76 for the next quarter and -$4.41 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.82 while analysts give the company a high EPS estimate of -$0.48. Comparatively, EPS for the current quarter was -$0.31 a year ago. Earnings per share for the fiscal year are expected to decrease by -11.40%, and -53.10% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Kodiak Sciences Inc. (KOD) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 1 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the KOD, a number of firms have released research notes about the stock. BMO Capital Markets stated their Outperform rating for the stock in a research note on March 31, 2020, with the firm’s price target at $74. Goldman coverage for the Kodiak Sciences Inc. (KOD) stock in a research note released on March 03, 2020 offered a Buy rating with a price target of $80. Barclays was of a view on February 18, 2020 that the stock is Equal Weight, while SunTrust gave the stock Buy rating on February 06, 2020, issuing a price target of. ROTH Capital on their part issued Buy rating on January 08, 2020.


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