Braidwell LP Takes Position in Kardigan, Inc. $KARD

Braidwell LP purchased a new stake in Kardigan, Inc. (NASDAQ:KARD) during the second quarter, according to its most recent filing with the SEC. The firm purchased 300,000 shares of the company’s stock, valued at approximately $7,155,000.

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

Insider Transactions at Kardigan

In other news, Director Arch Venture Partners Xiii, Ll acquired 1,250,000 shares of Kardigan stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $16.00 per share, with a total value of $20,000,000.00. Following the completion of the transaction, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul L. Berns acquired 1,250,000 shares of Kardigan stock in a transaction dated Monday, June 22nd. The shares were purchased at an average cost of $16.00 per share, with a total value of $20,000,000.00. Following the completion of the transaction, the director directly owned 15,042,035 shares of the company’s stock, valued at $240,672,560. This trade represents a 9.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Kardigan Stock Up 11.8%

Kardigan stock opened at $21.92 on Thursday. The firm has a 50 day moving average of $21.78. Kardigan, Inc. has a twelve month low of $16.25 and a twelve month high of $27.00.

Kardigan (NASDAQ:KARD) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($4.61) EPS for the quarter. As a group, equities research analysts predict that Kardigan, Inc. will post -5.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. TD Cowen assumed coverage on shares of Kardigan in a research report on Monday, July 13th. They issued a “buy” rating and a $46.00 price objective for the company. Jefferies Financial Group started coverage on Kardigan in a research note on Monday, July 13th. They issued a “buy” rating and a $40.00 target price for the company. JPMorgan Chase & Co. lowered their price target on Kardigan from $51.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 25th. Wall Street Zen lowered Kardigan from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Leerink Partners began coverage on Kardigan in a report on Monday, July 13th. They set an “outperform” rating and a $37.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.25.

Kardigan 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.