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Kodiak Sciences Inc (NASDAQ: KOD): Surviving A Volatility

Kodiak Sciences Inc (NASDAQ:KOD) price closed higher on Friday, November 17, jumping 29.69% above its previous close.

A look at the daily price movement shows that the last close reads $1.92, with intraday deals fluctuated between $2.08 and $2.59. The company’s 5Y monthly beta was ticking 1.78. Taking into account the 52-week price action we note that the stock hit a 52-week high of $9.80 and 52-week low of $1.37. The stock added 55.62% on its value in the past month.

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Kodiak Sciences Inc, which has a market valuation of $130.65 million, is expected to release its quarterly earnings report Nov 14, 2023. Analysts tracking KOD have forecast the quarterly EPS to shrink by -0.93 per share this quarter, while the same analysts predict the annual EPS to hit -$4.93 for the year 2023 and up to -$2.64 for 2024. In this case, analysts estimate an annual EPS growth of 22.80% for the year and 46.50% for the next year.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 2 upward and no downward reviews. On the technical perspective front, indicators give KOD a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 6 analysts have assigned KOD a recommendation rating as follows: 3 rate it as a Hold; 0 advise Buy while 1 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Kodiak Sciences Inc (KOD) stock as Underweight, with 2 recommending Sell. In general, analysts have rated the stock Underweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

The overview shows that KOD’s price is at present 41.96% off the SMA20 and 35.58% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 66.02, with weekly volatility standing at 15.80%. The indicator jumps to 13.41% when calculated based on the past 30 days. Kodiak Sciences Inc (NASDAQ:KOD)’s beta value is holding at 1.86, while the average true range (ATR) indicator is currently reading 0.25. Considering analysts have assigned the stock a price target range of $2.00-$12.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $5.25. Based on this estimate, we see that current price is roughly 19.68% off the estimated low and -381.93% off the forecast high. Investors will no doubt be excited to see the share price fall to $3.50, which is the median consensus price, and at that level KOD would be -40.56% from current price.

Another comparison is with Ocular Therapeutix Inc. (OCUL) whose stock price was up 9.62%% in the last trading session, and has flourished -23.49% over the past year. Also, EyePoint Pharmaceuticals Inc. (EYPT) showed up trend of 7.61%% while its price kept floating at 84.72% over the past year. Elsewhere in the market, the S&P 500 Index has rallied 0.13% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with 0.01%.

An analysis of the Kodiak Sciences Inc (NASDAQ:KOD) stock in terms of its daily trading volume indicates that the 3-month average is 826.42K. However, this figure increases on the past 10-day timeline to an average of 1.4 million.

Current records show that the company has 52.33M in outstanding shares. The insiders’ percentage holdings are 5.70% of outstanding shares while the percentage share held by institutions stands at 80.30%. The stats also highlight that short interest as of Oct 30, 2023, stood at 3.35 million shares, which puts the short ratio at the time at 7.62. From this we can glean that short interest is 6.38% of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 3.68 million. But the -65.22% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.