Kodiak Sciences’ (NYSE:KOD) quiet period will end on Tuesday, November 13th. 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. During the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several research firms have recently weighed in on KOD. Barclays began coverage on Kodiak Sciences in a research note on Monday, October 29th. They set an “overweight” rating and a $20.00 price objective for the company. Morgan Stanley began coverage on Kodiak Sciences in a research note on Monday, October 29th. They set an “overweight” rating and a $20.00 price objective for the company. Finally, Bank of America began coverage on Kodiak Sciences in a research note on Monday, October 29th. They set a “buy” rating and a $14.00 price objective for the company.
Shares of Kodiak Sciences stock opened at $8.64 on Friday. Kodiak Sciences has a 12 month low of $8.14 and a 12 month high of $11.10.
In other Kodiak Sciences news, Director Robert Profusek bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 9th. The stock was acquired at an average price of $10.00 per share, with a total value of $100,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
About Kodiak Sciences
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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