Kardigan, Inc. (NASDAQ:KARD) Given Average Recommendation of “Moderate Buy” by Brokerages

Kardigan, Inc. (NASDAQ:KARD) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $42.25.

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Kardigan from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Jefferies Financial Group began coverage on Kardigan in a research report on Monday, July 13th. They set a “buy” rating and a $40.00 price target on the stock. TD Cowen assumed coverage on Kardigan in a report on Monday, July 13th. They set a “buy” rating and a $46.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Kardigan from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, August 25th. Finally, Leerink Partners began coverage on Kardigan in a research report on Monday, July 13th. They set an “outperform” rating and a $37.00 target price on the stock.

Insider Transactions at Kardigan

In other Kardigan news, Director Arch Venture Partners Xiii, Ll purchased 1,250,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $16.00 per share, for a total transaction of $20,000,000.00. Following the completion of the purchase, the director owned 15,042,035 shares of the company’s stock, valued at approximately $240,672,560. The trade was a 9.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Berns acquired 1,250,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $16.00 per share, for a total transaction of $20,000,000.00. Following the acquisition, the director owned 15,042,035 shares of the company’s stock, valued at approximately $240,672,560. This 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 and hedge funds have recently made changes to their positions in KARD. Jupiter Topco LLC purchased a new stake in shares of Kardigan during the second quarter worth $17,715,000. Montanova Capital LLC purchased a new position in shares of Kardigan in the second quarter worth about $9,540,000. Bank of New York Mellon Corp purchased a new position in shares of Kardigan in the second quarter worth about $9,010,000. Braidwell LP acquired a new position in Kardigan during the second quarter worth about $7,155,000. Finally, Citadel Advisors LLC purchased a new stake in Kardigan during the 2nd quarter valued at about $2,862,000.

Kardigan Price Performance

KARD opened at $18.52 on Friday. Kardigan has a 12 month low of $16.25 and a 12 month high of $27.00. The stock has a fifty day moving average of $21.22.

Kardigan (NASDAQ:KARD) last announced its earnings results on Tuesday, August 11th. The company reported ($4.61) EPS for the quarter. Research analysts expect that Kardigan will post -5.14 earnings per share for the current year.

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.