Kodiak Sciences (NYSE:KOD) Trading 7.7% Higher

Kodiak Sciences Inc. (NYSE:KOD) shot up 7.7% during trading on Friday . The company traded as high as $11.06 and last traded at $11.03, 105,359 shares traded hands during trading. A decline of 8% from the average session volume of 114,417 shares. The stock had previously closed at $10.24.

KOD has been the topic of several recent analyst reports. Chardan Capital restated a “buy” rating and issued a $22.50 target price on shares of Kodiak Sciences in a report on Thursday, June 13th. Zacks Investment Research cut shares of Kodiak Sciences from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $17.50.

The firm’s fifty day moving average price is $12.79 and its 200-day moving average price is $9.27.

Kodiak Sciences (NYSE:KOD) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02).

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Kodiak Sciences during the 4th quarter valued at approximately $3,139,000. Bank of New York Mellon Corp acquired a new stake in Kodiak Sciences during the 4th quarter worth approximately $94,000. Northern Trust Corp acquired a new stake in Kodiak Sciences during the 4th quarter worth approximately $487,000. Geode Capital Management LLC acquired a new stake in Kodiak Sciences during the 4th quarter worth approximately $458,000. Finally, Deutsche Bank AG acquired a new stake in Kodiak Sciences during the 4th quarter worth approximately $87,000.

About Kodiak Sciences (NYSE:KOD)

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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