Kodiak Sciences Inc (NASDAQ: KOD) Surprises Bears With Its Outlook.

In the last trading session, 1.04 million shares of the Kodiak Sciences Inc (NASDAQ:KOD) were traded, and its beta was 2.15. Most recently the company’s share price was $4.33, and it changed around -$0.12 or -2.70% from the last close, which brings the market valuation of the company to $227.37M. KOD currently trades at a discount to its 52-week high of $9.80, offering almost -126.33% off that amount. The share price’s 52-week low was $1.37, which indicates that the current value has risen by an impressive 68.36% since then. We note from Kodiak Sciences Inc’s average daily trading volume that its 10-day average is 1.82 million shares, with the 3-month average coming to 898.55K.

Kodiak Sciences Inc stock received a consensus recommendation rating of Buy, based on a mean score of 3.33. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended KOD as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Kodiak Sciences Inc is expected to report earnings per share of -$1.13 for the current quarter.

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Kodiak Sciences Inc (NASDAQ:KOD) trade information

Instantly KOD has showed a red trend with a performance of -2.70% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 42.43% year-to-date, but still down -29.25% over the last five days. On the other hand, Kodiak Sciences Inc (NASDAQ:KOD) is -27.95% down in the 30-day period. We can see from the shorts that 2.02 million shares have been sold at a short interest cover period of 3.21 day(s).

The consensus price target as assigned by Wall Street analysts is $32.8, which translates to bulls needing to increase their stock price by 86.8% from its current value. Analyst projections state that KOD is forecast to be at a low of $8 and a high of $114.

Kodiak Sciences Inc (KOD) estimates and forecasts

Kodiak Sciences Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 140.56 percent over the past six months and at a 24.75% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 16.30% in revenue this quarter, and will report an increase of 20.30% in the next quarter.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -12.42%. Kodiak Sciences Inc earnings are expected to increase by 16.22% in 2024, but the outlook is positive 12.40% per year for the next five years.

KOD Dividends

Kodiak Sciences Inc’s next quarterly earnings report is expected to be released around May 13 and May 17.

Kodiak Sciences Inc (NASDAQ:KOD)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 5.66% of Kodiak Sciences Inc shares, and 78.94% of them are in the hands of institutional investors. The stock currently has a share float of 83.68%. Kodiak Sciences Inc stock is held by 147 institutions, with Baker Brothers Advisors, LLC being the largest institutional investor. By Jun 29, 2023, it held 33.00% of the shares, which is about 17.31 million shares worth $119.44 million.

Blackrock Inc., with 8.59% or 4.51 million shares worth $31.1 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 0.98 million shares worth $6.77 million, making up 1.87% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 0.74 million shares worth around $1.64 million, which represents about 1.42% of the total shares outstanding.