Kardigan (NASDAQ:KARD) Price Target Cut to $46.00 by Analysts at JPMorgan Chase & Co.

Kardigan (NASDAQ:KARD) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $51.00 to $46.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 122.87% from the company’s previous close.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Kardigan from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Zacks Research upgraded shares of Kardigan to a “hold” rating in a research note on Wednesday, July 15th. Leerink Partners assumed coverage on shares of Kardigan in a report on Monday, July 13th. They set an “outperform” rating and a $37.00 price target for the company. TD Cowen assumed coverage on shares of Kardigan in a research note on Monday, July 13th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Kardigan in a report on Monday, July 13th. They issued a “buy” rating and a $40.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Kardigan presently has an average rating of “Moderate Buy” and an average target price of $42.25.

Kardigan Trading Down 1.8%

NASDAQ:KARD opened at $20.64 on Tuesday. Kardigan has a fifty-two week low of $16.25 and a fifty-two week high of $27.00. The stock’s 50 day moving average is $21.98.

Kardigan (NASDAQ:KARD) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($4.61) earnings per share for the quarter. On average, equities analysts predict that Kardigan will post -3.18 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Kardigan

A number of institutional investors have recently bought and sold shares of KARD. Bank of New York Mellon Corp bought a new stake in shares of Kardigan during the 2nd quarter worth about $9,010,000. Legal & General Group Plc bought a new position in shares of Kardigan in the 2nd quarter valued at approximately $119,000. Jupiter Topco LLC bought a new position in shares of Kardigan in the 2nd quarter valued at approximately $17,715,000. Bank of America Corp DE acquired a new stake in Kardigan in the 2nd quarter worth approximately $1,283,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Kardigan in the 2nd quarter worth approximately $716,000.

Kardigan Company Profile

Kardigan Inc is a clinical-stage precision therapeutics company developing medicines which target the root cause of specific cardiovascular diseases. Kardigan Inc is based in South San Francisco, California.