Short Interest in Kodiak Sciences Inc. (NASDAQ:KOD) Rises By 19.3%

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

Wall Street Analyst Weigh In

A number of research analysts have commented on KOD shares. Jefferies Financial Group raised 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 note on Monday, December 9th. Barclays increased their target price on Kodiak Sciences from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Finally, HC Wainwright reissued a “neutral” rating and set a $3.00 price target on shares of Kodiak Sciences in a report on Friday, November 15th.

Kodiak Sciences Trading Up 3.1 %

NASDAQ:KOD traded up $0.16 during mid-day trading on Friday, hitting $5.26. 194,877 shares of the company’s stock traded hands, compared to its average volume of 392,843. Kodiak Sciences has a 12 month low of $2.18 and a 12 month high of $11.60. The firm has a market capitalization of $276.78 million, a price-to-earnings ratio of -1.44 and a beta of 2.06. The firm has a 50 day moving average of $7.99 and a two-hundred day moving average of $5.15.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KOD. PNC Financial Services Group Inc. increased its position in Kodiak Sciences by 1,501.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,187 shares of the company’s stock worth $32,000 after buying an additional 2,988 shares during the last quarter. US Bancorp DE acquired a new position in shares of Kodiak Sciences during the 4th quarter worth approximately $40,000. Headlands Technologies LLC bought a new stake in Kodiak Sciences in the 4th quarter valued at $90,000. Fox Run Management L.L.C. acquired a new stake in Kodiak Sciences during the 4th quarter valued at $118,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Kodiak Sciences during the 3rd quarter worth about $33,000. 89.06% of the stock is currently owned by institutional investors.

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.