Kardigan (NASDAQ:KARD) Releases Earnings Results

Kardigan (NASDAQ:KARD) announced its earnings results on Tuesday. The company reported ($4.61) earnings per share (EPS) for the quarter, FiscalAI reports.

Kardigan Trading Up 2.2%

KARD stock traded up $0.47 during midday trading on Thursday, reaching $22.25. The company had a trading volume of 69,638 shares, compared to its average volume of 379,053. Kardigan has a 1 year low of $16.25 and a 1 year high of $27.00.

Insider Buying and Selling at Kardigan

In related news, Director Paul L. Berns purchased 1,250,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were 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 owned 15,042,035 shares of the company’s stock, valued at $240,672,560. The trade was a 9.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arch Venture Partners Xiii, Ll acquired 1,250,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $16.00 per share, with a total value of $20,000,000.00. Following the completion of the acquisition, the director owned 15,042,035 shares of the company’s stock, valued at $240,672,560. This represents a 9.06% increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Investors Weigh In On Kardigan

A hedge fund recently bought a new position in Kardigan stock. Bank of New York Mellon Corp acquired a new position in Kardigan, Inc. (NASDAQ:KARD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 377,758 shares of the company’s stock, valued at approximately $9,010,000. Bank of New York Mellon Corp owned about 0.42% of Kardigan as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KARD. Zacks Research upgraded Kardigan to a “hold” rating in a report on Wednesday, July 15th. Leerink Partners assumed coverage on shares of Kardigan in a research report on Monday, July 13th. They issued an “outperform” rating and a $37.00 target price on the stock. TD Cowen started coverage on shares of Kardigan in a report on Monday, July 13th. They set a “buy” rating and a $46.00 price target on the stock. Wall Street Zen upgraded shares of Kardigan to a “hold” rating in a research report on Saturday, June 27th. Finally, Jefferies Financial Group began coverage on shares of Kardigan in a research note on Monday, July 13th. They issued a “buy” rating and a $40.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.50.

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.