Kodiak Sciences Inc. [NASDAQ: KOD] closed the trading session at $127.01 on 11/18/20. The day’s price range saw the stock hit a low of $120.00, while the highest price level was $141.50. The company report on November 18, 2020 that Kodiak Sciences Announces Pricing of $560.9 Million Public Offering of Common Stock.
Kodiak Sciences Inc. (Nasdaq: KOD), a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat high prevalence retinal diseases, today announced the pricing of an underwritten public offering of 5,193,237 shares of its common stock at a price to the public of $108.00 per share. The aggregate gross proceeds from the offering are expected to be approximately $560.9 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Kodiak Sciences. The offering is expected to close on or about November 20, 2020, subject to customary closing conditions. In addition, Kodiak Sciences has granted the underwriters a 30-day option to purchase up to an additional 778,985 shares of its common stock at the public offering price, less underwriting discounts and commissions.
J.P. Morgan, Morgan Stanley, Jefferies and Evercore ISI are acting as joint book-running managers for the proposed offering. Truist Securities is acting as lead manager for the proposed offering.
The stocks have a year to date performance of 76.53 percent and weekly performance of 5.85 percent. The stock has been moved at 106.25 percent over the last six months. The stock has performed 62.83 percent around the most recent 30 days and changed 164.88 percent over the most recent 3-months.
If compared to the average trading volume of 323.30K shares, KOD reached to a volume of 2516185 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Kodiak Sciences Inc. [KOD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KOD shares is $100.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KOD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Kodiak Sciences Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on November 16, 2020. While these analysts kept the previous recommendation, Goldman dropped their target price from $83 to $105. The new note on the price target was released on November 13, 2020, representing the official price target for Kodiak Sciences Inc. stock. Previously, the target price had yet another raise to $74, while BMO Capital Markets analysts kept a Outperform rating on KOD stock.
The Average True Range (ATR) for Kodiak Sciences Inc. is set at 9.84 The Price to Book ratio for the last quarter was 20.32, with the Price to Cash per share for the same quarter was set at 8.09.
KOD stock trade performance evaluation
Kodiak Sciences Inc. [KOD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.85. With this latest performance, KOD shares gained by 62.83% in over the last four-week period, additionally plugging by 106.25% over the last 6 months – not to mention a rise of 318.35% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KOD stock in for the last two-week period is set at 77.68, with the RSI for the last a single of trading hit 76.84, and the three-weeks RSI is set at 76.54 for Kodiak Sciences Inc. [KOD]. The present Moving Average for the last 50 days of trading for this stock 79.89, while it was recorded at 118.85 for the last single week of trading, and 60.50 for the last 200 days.
Kodiak Sciences Inc. [KOD]: An insightful look at the core fundamentals
Return on Total Capital for KOD is now -22.66, given the latest momentum, and Return on Invested Capital for the company is -21.84. Return on Equity for this stock declined to -21.92, with Return on Assets sitting at -21.00. When it comes to the capital structure of this company, Kodiak Sciences Inc. [KOD] has a Total Debt to Total Equity ratio set at 0.56. Additionally, KOD Total Debt to Total Capital is recorded at 0.56, with Total Debt to Total Assets ending up at 0.54. Long-Term Debt to Equity for the company is recorded at 0.43, with the Long-Term Debt to Total Capital now at 0.43.
Reflecting on the efficiency of the workforce at the company, Kodiak Sciences Inc. [KOD] managed to generate an average of -$1,214,487 per employee.Kodiak Sciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 17.00 and a Current Ratio set at 17.00.
Earnings per share (EPS) analysis for Kodiak Sciences Inc. [KOD] stock
With the latest financial reports released by the company, Kodiak Sciences Inc. posted -0.4/share EPS, while the average EPS was predicted by analysts to be reported at -0.35/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KOD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Kodiak Sciences Inc. go to 12.40%.
Kodiak Sciences Inc. [KOD]: Insider Ownership positions
There are presently around $4,683 million, or 87.00% of KOD stock, in the hands of institutional investors. The top three institutional holders of KOD stocks are: BAKER BROS. ADVISORS LP with ownership of 12,352,175, which is approximately 6.719% of the company’s market cap and around 0.10% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 4,909,948 shares of the stock with an approximate value of $623.61 million in KOD stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $391.14 million in KOD stock with ownership of nearly -6.048% of the company’s market capitalization.
Positions in Kodiak Sciences Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 77 institutional holders increased their position in Kodiak Sciences Inc. [NASDAQ:KOD] by around 2,391,206 shares. Additionally, 59 investors decreased positions by around 3,719,872 shares, while 18 investors held positions by with 30,759,425 shares. The mentioned changes placed institutional holdings at 36,870,503 shares, according to the latest SEC report filing. KOD stock had 29 new institutional investments in for a total of 904,813 shares, while 15 institutional investors sold positions of 376,547 shares during the same period.