Kodiak Sciences Inc. (KOD) Stock Price & Analysis
Kodiak Sciences Inc. (KOD) closed at USD 85.78 on Thursday, October 22, 2026, down 2.21% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 87.72; the Oct 22, 2026 session ranged USD 84.86–89.52 on volume of 593,583 shares. Market capitalization is $5.39B, with a 52-week range of USD 15.83–104 (NGM). Source: Nexqual, retrieved October 23, 2026 at 09:56 UTC.
Also available as compact Markdown for AI agents: nexqual.com/KOD.md
Key facts (KOD)
- 1 of 80 tracked superinvestors hold KOD (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $1.0M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 3 Form 4 filings, $157M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (7 analysts), mean target USD 121.67 (range 103–145).
- Total return with dividends: 1Y +401.3% vs S&P 500 +14.9%; 5Y -26.1% vs S&P 500 +80.3%.
- Next earnings: 2026-11-12, EPS estimate USD -1.01, revenue estimate $0K.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (KOD)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$267M | -$341M | -$277M | -$187M | -$234M | -$246M |
| Net income | -$267M | -$334M | -$260M | -$176M | -$230M | -$242M |
| EPS (diluted) | -$5.16 | -$6.39 | -$4.97 | -$3.35 | -$4.32 | — |
| Free cash flow | -$199M | -$243M | -$196M | -$118M | -$137M | -$160M |
| Cash + short-term investments | $732M | $479M | $286M | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (KOD)
P/B 88.2x · FCF yield -2.97% · Earnings yield -4.49%
Superinvestors (SEC 13F-HR, Q2 2026) (KOD)
1 of 80 tracked investors hold KOD. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.01% | $1.4M | Reduced -14.2% |
Insider sales (SEC Form 4, open-market, last ~7 months) (KOD)
1 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-04 | Borgeson John A. | Chief Financial Officer | 30,000 | $1.0M | 12.4% | Yes (adopted September 29, 2025) | Routine (sold in Jun each year 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (KOD)
3 purchases, $157M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-28…2026-09-29 | Baker Bros. Advisors Lp | Director | 715,592 | $63.4M | 88.59 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-28 | Baker Bros. Advisors Lp | Director | 418,323 | $35.0M | 83.58 | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-28 | Baker Bros. Advisors Lp | Director | 807,840 | $58.6M | 72.57 | Too little history (no open-market trades in 2023 or 2024) |
Analysts (KOD)
Consensus Buy (mean 2.00 on a 1–5 scale), 7 analysts; mean target USD 121.67 (low 103, high 145).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | HC Wainwright & Co. | Target raised | Buy | $96 → $126 |
| 2026-09-28 | LifeSci Capital | Target raised | Outperform | $85 → $145 |
| 2026-09-28 | UBS | Target raised | Buy | $80 → $120 |
| 2026-09-28 | HC Wainwright & Co. | Target raised | Buy | $58 → $96 |
| 2026-09-17 | HC Wainwright & Co. | Reiterated | Buy | $58 |
| 2026-08-17 | HC Wainwright & Co. | Reiterated | Buy | $58 |
| 2026-08-03 | JP Morgan | Target raised | Overweight | $56 → $66 |
Total return (dividends reinvested) (KOD)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +401.3% | -26.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +404.1% | -5.8% |
| Volatility (annualized) | 137.8% | 141.7% |
| Max drawdown | -36.2% (Apr 2026→Jun 2026) | -98.8% (Nov 2021→Oct 2023) |
KOD suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | General | “General business and economic conditions that could affect our business, financial condition or results of operations include fluctuations in economic growth, debt and equity capital markets, liquidity of the global financial markets, access to our liquidity within the U.S. banking system, the availability and cost of credit, investor and consumer confidence, and the strength of the economies in which we, our manu…” |
| Partner | Lonza | “In August 2020, we entered into a manufacturing agreement with Lonza for the clinical and commercial supply of the Company's antibody biopolymer conjugate drug substance which included a custom-built manufacturing facility.” |
| Competitor | AMD (AMD) | “The objectives for Zenkuda in DAYBREAK are to assess its durability potential, strengthen its competitive position in wet AMD and bolster the possible regulatory application package for the program.” |
Quoted from the company's 10-K filed Mar 31, 2026.
KOD company outlook (results filed Aug 13, 2026)
- “We expect that our current cash and cash equivalents will support our current and planned operations into 2027.”
- “Zenkuda is currently being studied in the Phase 3 DAYBREAK study in wet AMD, the final anticipated Phase 3 study in the program.”
- “Topline results for the DAYBREAK one-year primary endpoint are expected in September 2026.”
- “Topline data for the one-year primary endpoint in DAYBREAK are expected in September 2026.”
Quoted word-for-word from the SEC 8-K results press release.
KOD analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-1.01 | $-0.93 | +8.5% | $0 | 5 |
| Next quarter (ends Dec 2026) | $-0.98 | $-0.92 | +7.5% | $0 | 5 |
| Current fiscal year (ends Dec 2026) | $-3.98 | $-3.74 | +6.4% | $0 | 5 |
| Next fiscal year (ends Dec 2027) | $-3.44 | $-3.12 | +10.2% | $49.1M | 4 |
KOD options: expected move
Options price a move of about ±16.6% (±$14.40) by Nov 20, 2026, which includes earnings on Nov 12, 2026. Over the last 8 reports the stock moved ±10.7% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 74.8% | ±16.6% |
| Dec 18, 2026 | 56 | 81.1% | ±25.1% |
| Jan 15, 2027 | 84 | 81.6% | ±30.6% |
| Mar 19, 2027 | 147 | 75.6% | ±37.4% |
| Jun 17, 2027 | 237 | 73.4% | ±45.8% |
30-day implied volatility 75.9% vs 305.2% realized over the last 30 trading days. Put/call ratio (volume) 2.62. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:56 UTC)
| Price | USD 85.78 |
|---|---|
| Change | ▼ 2.21% (down) |
| Previous Close | USD 87.72 |
| Open | USD 87.14 |
| Day Range | USD 84.86 – 89.52 |
| 52-Week Range | USD 15.83 – 104 |
| Volume | 593,583 shares |
| Market Cap | $5.39B |
| Exchange | NGM |
Technical Analysis (KOD)
Nexqual's technical model rates KOD "BUY" based on 4 bullish and 1 bearish signals across 127 daily candles, as of October 23, 2026 at 09:56 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 57.86 (neutral) |
| vs SMA50 | Above (USD 57.28) |
| MACD | 9.55 (positive) |
Analyst Ratings (KOD)
Wall Street analysts rate KOD "Buy" based on 7 analysts, with a mean price target of USD 121.67 (range USD 103–145), per Nexqual as of October 23, 2026 at 09:56 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 7 |
| Mean Target | USD 121.67 |
| High Target | USD 145 |
| Low Target | USD 103 |
| Buy / Hold / Sell | 6 / 1 / 0 |
Earnings (KOD)
| Next Earnings Date | 2026-11-12 |
|---|---|
| EPS Estimate | USD -1.01 |
| Revenue Estimate | $0 |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -1.05 vs est -0.96 ▼ miss |
| 2026-03-31 | USD -0.94 vs est -1.01 ▲ beat |
| 2025-12-31 | USD -1.04 vs est -1.05 ▲ beat |
| 2025-09-30 | USD -1.16 vs est -1.04 ▼ miss |
Source: Nexqual, October 23, 2026 at 09:56 UTC.
Financials & Fundamentals (KOD)
| Gross Margin | +0.00% |
|---|---|
| Operating Margin | +0.00% |
| Profit Margin | +0.00% |
| ROE | -368.37% |
| Debt / Equity | 0.86 |
| Current Ratio | 2.49 |
| Total Cash | $125.90M |
| Total Debt | $52.76M |
Source: Nexqual, October 23, 2026 at 09:56 UTC.
Financial Health Score (KOD)
Nexqual rates Kodiak Sciences Inc.'s overall financial health "Weak" across five dimensions, as of October 23, 2026 at 09:56 UTC.
| Growth | Mixed — No data |
|---|---|
| Profitability | Weak — Pre-revenue or very early stage |
| Balance Sheet | Mixed — $126M cash vs $53M debt, net cash position |
| Cash Flow | Weak — Operating cash flow -$136M (FY ended Dec 2025, 10-K) |
| Efficiency | Critical — ROE -368%, ROA -60.4% |
Ownership (KOD)
| Insider Ownership | +5.16% |
|---|---|
| Institutional Ownership | +105.57% |
| Shares Outstanding | 62.85M |
| Float | 36.86M |
| Short % of Float | +23.61% |
Source: Nexqual, October 23, 2026 at 09:56 UTC.
Leadership (KOD)
Kodiak Sciences Inc. is led by Victor Perlroth, Co-Founder, Chairman, CEO & President, per Nexqual as of October 23, 2026 at 09:56 UTC.
| Co-Founder, Chairman, CEO & President | Victor Perlroth |
|---|---|
| Executive VP, CFO & Secretary | John A. Borgeson |
| Chief Technology Officer | Wayne To M.Phil. |
| Chief Scientific Officer | Dolly S. Chang M.D., M.P.H. |
| Senior Vice President of Development | Hong Liang |
Major Backers & Investors (KOD)
Notable institutional backers of Kodiak Sciences Inc. include Baker Bros. Advisors, LP, Price (T.Rowe) Associates Inc, Goldman Sachs, according to Nexqual as of October 23, 2026 at 09:56 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Baker Bros. Advisors, LP | 31.69% |
| Price (T.Rowe) Associates Inc | 5.17% |
| Goldman Sachs | 3.69% |
| T. Rowe Price | 3.34% |
| Braidwell LP | 2.84% |
| Jupiter Topco LLC | 2.43% |
| RTW Investments LP | 2.37% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 6.58% |
| State Street | 3.85% |
| Vanguard Group | 2.87% |
Source: Nexqual, October 23, 2026 at 09:56 UTC.
From Kodiak Sciences Inc.'s Latest SEC 10-K Filing (filed 2026-03-31)
Key Strengths & Strategy (as disclosed to the SEC)
- We are advancing our platform technology to embed small molecules and other active pharmaceutical ingredients ("API") into our proprietary biopolymer backbone to enable high drug-antibody-ratio ("DAR") medicines.
- Beyond its clinical pipeline, Kodiak is advancing its platform technology to embed small molecules and other active pharmaceutical ingredients ("API"), into Kodiak's proprietary biopolymer backbone to enable high drug-antibody ratio ("DAR") medicines.
- Regeneron's Eylea HD is a major competitive product, with FDA approvals across wet AMD, DME, DR and RVO.
- In the United States, the FDA regulates drugs under the Federal Food, Drug, and Cosmetic Act, or FDCA, and its implementing regulations, and biologics under the FDCA, the Public Health Service Act, or PHSA, and their implementing regulations.
Partnerships
- In August 2020, we entered into a manufacturing agreement with Lonza for the clinical and commercial supply of the Company's antibody biopolymer conjugate drug substance which included a custom-built manufacturing facility.
Legal & Regulatory Risks (Item 1A, quoted)
- We have conducted clinical trials for our product candidates outside the United States (or the respective jurisdictions of other regulatory authorities), and the FDA (or EMA and applicable foreign regulatory authorities) may not accept data from such trials.
- Our employees, independent contractors, consultants, commercial partners and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements or insider trading violations, which could significantly harm our business.
- Our business activities may be subject to the Foreign Corrupt Practices Act, or FCPA, and similar anti-bribery and anti-corruption laws.
- Our business activities may be subject to the FCPA and similar anti-bribery or anti-corruption laws, regulations or rules of other countries in which we operate or may operate in the future, including the UK Bribery Act. The FCPA generally prohibits offering, promising, giving or authorizing others to give anything of value, either directly or indirectly, to a non-U.S.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| RYTM | Rhythm Pharmaceuticals, Inc. | USD 90.9 | ▲ 2.57% |
| LGND | Ligand Pharmaceuticals Incorpor | USD 307.82 | ▼ 2.21% |
| IOVA | Iovance Biotherapeutics, Inc. | USD 14.14 | ▼ 3.28% |
| PRAX | Praxis Precision Medicines, Inc | USD 258.92 | ▲ 0.96% |
| IONS | Ionis Pharmaceuticals, Inc. | USD 43.91 | ▼ 0.81% |
| ABVX | Abivax SA | USD 90.23 | ▼ 3.49% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:56 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt