Leerink Partners Initiates Coverage on Kardigan (NASDAQ:KARD)

Analysts at Leerink Partners started coverage on shares of Kardigan (NASDAQ:KARD) in a research note issued on Monday. The brokerage set an “outperform” rating and a $37.00 price target on the stock. Leerink Partners’ target price indicates a potential upside of 50.16% from the stock’s previous close.

Several other brokerages have also recently weighed in on KARD. JPMorgan Chase & Co. initiated coverage on Kardigan in a report on Monday. They issued an “overweight” rating and a $51.00 price objective for the company. Wall Street Zen raised Kardigan to a “hold” rating in a report on Saturday, June 27th. Finally, Jefferies Financial Group began coverage on Kardigan in a research report on Monday. They issued a “buy” rating and a $40.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $42.67.

Kardigan Stock Performance

Shares of KARD stock opened at $24.64 on Monday. Kardigan has a 1 year low of $16.25 and a 1 year high of $27.00.

Insider Activity at Kardigan

In other Kardigan news, Director Arch Venture Partners Xiii, Ll bought 1,250,000 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $20,000,000.00. Following the completion of the purchase, the director directly owned 15,042,035 shares of the company’s stock, valued at approximately $240,672,560. This trade represents a 9.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul L. Berns bought 1,250,000 shares of Kardigan stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $20,000,000.00. Following the acquisition, the director owned 15,042,035 shares in the company, valued at approximately $240,672,560. This represents a 9.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.