Kodiak Sciences Inc. (NASDAQ:KOD) is one of the worst performers on the stock market today. At current price of $10.99, the shares have already lost -0.61 points (-5.26% lower) from its previous close of $11.6. Should you buy or avoid them? The stock sets an active trading volume day with a reported 179063 contracts so far this session. KOD shares had a relatively better volume day versus average trading capacity of 89.97 million shares, but with a 29.52 million float and a 14.51% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for KOD stock indicates that the average analyst price target is $19.13 per share. This means the stock has a potential increase of 74.07% from where the KOD share price has been trading recently which is between $10.34 and $11.735. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $20.
The shorts are running away from Kodiak Sciences Inc. (KOD) stock. The latest set of short interest data was released on 15 May 2019, and the numbers show a drop in short interest in KOD shares. While short interest still represents only 0.58% of KOD’s float, the number of shares shorted have fallen by -23416. The number of shares shorted fell to 172311 shares, down from 195727 shares during the preceding fortnight. With average daily trading volumes at 64263 shares, days to cover decreased to about 3.266908 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Kodiak Sciences to Present at the Jefferies 2019 Healthcare Conference” and dated May 30, 2019.
Looking at the current readings for Kodiak Sciences Inc., the two-week RSI stands at 68.95. This figure suggests that KOD stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current KOD readings is similarly very revealing as it has a stochastic reading of 82.04% at this stage. This figure means that KOD share price today is being oversold.
Technical chart claims that Kodiak Sciences Inc. (KOD) would settle between $12.11/share to $12.61/share level. However, if the stock price goes below the $10.72 mark, then the market for Kodiak Sciences Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $9.83 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.59. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Chardan Capital Markets, assumed coverage of KOD assigning Buy rating, according to their opinion released on February 20. Morgan Stanley, analysts launched coverage of Kodiak Sciences Inc. (NASDAQ:KOD) stock with a Overweight recommendation, according to their flash note issued to investors on October 29. Analysts at BofA/Merrill, made their first call for the equity with a Buy recommendation, according to a research note that dated back to October 29.
KOD equity has an average rating of 2, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Kodiak Sciences Inc. (NASDAQ:KOD) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.