Benzinga | Jan 25, 2021 12:40PM EST

Why Kodiak Sciences Stock Is Trading Lower Today

Kodiak Sciences (NASDAQ:KOD) shares are trading lower after BMO Capital downgraded the stock from Outperform to Market Perform.

Kodiak Sciences is a clinical stage company. It is engaged in developing innovative therapeutics to treat high prevalence of ophthalmic diseases. The most advanced product candidate of the group is KSI-301, a biologic therapy built with antibody biopolymer conjugate platform, which is designed to maintain potent and effective drug levels in ocular tissue.

Kodiak Sciences shares traded down 4.60% to $156.78 The stock has a 52-week high of $169.98 and a 52-week low of $35.49.