Kodiak Sciences’ (NYSE:KOD) lock-up period is set to expire on Tuesday, April 2nd. Kodiak Sciences had issued 9,000,000 shares in its public offering on October 4th. The total size of the offering was $90,000,000 based on an initial share price of $10.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Several research analysts recently weighed in on KOD shares. Zacks Investment Research downgraded Kodiak Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Chardan Capital started coverage on Kodiak Sciences in a report on Wednesday, February 20th. They issued a “buy” rating and a $22.50 price target for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.13.
Kodiak Sciences stock traded up $0.37 during mid-day trading on Friday, hitting $7.35. The company’s stock had a trading volume of 48,272 shares, compared to its average volume of 69,300. Kodiak Sciences has a 1 year low of $5.65 and a 1 year high of $11.10.
Hedge funds and other institutional investors have recently made changes to their positions in the company. American International Group Inc. acquired a new stake in shares of Kodiak Sciences in the fourth quarter valued at $44,000. Deutsche Bank AG acquired a new stake in shares of Kodiak Sciences in the fourth quarter valued at $87,000. Bank of New York Mellon Corp acquired a new stake in shares of Kodiak Sciences in the fourth quarter valued at $94,000. Pura Vida Investments LLC acquired a new stake in Kodiak Sciences in the fourth quarter valued at $173,000. Finally, Geode Capital Management LLC purchased a new position in shares of Kodiak Sciences during the fourth quarter worth about $458,000.
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Kodiak Sciences Company Profile
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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