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

Kardigan, Inc. (NASDAQ:KARD) has been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $42.25.

A number of equities analysts recently commented on the company. TD Cowen began coverage on Kardigan in a research note on Monday, July 13th. They set a “buy” rating and a $46.00 price target for the company. Wall Street Zen downgraded 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 report on Monday, July 13th. They set a “buy” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price 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 started coverage on shares of Kardigan in a report on Monday, July 13th. They issued an “outperform” rating and a $37.00 target price for the company.

Kardigan Stock Up 0.5%

KARD opened at $20.85 on Friday. The firm’s 50-day moving average is $21.69. Kardigan has a 52 week low of $16.25 and a 52 week high of $27.00.

Kardigan (NASDAQ:KARD) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($4.61) earnings per share for the quarter. On average, sell-side analysts forecast that Kardigan will post -5.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kardigan news, Director Arch Venture Partners Xiii, Ll acquired 1,250,000 shares of the company’s stock in a transaction 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 purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul L. Berns bought 1,250,000 shares of Kardigan stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $16.00 per share, for a total transaction of $20,000,000.00. Following the completion of the acquisition, the director owned 15,042,035 shares in the company, valued at approximately $240,672,560. The trade was a 9.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in Kardigan during the second quarter worth approximately $119,000. Alyeska Investment Group L.P. purchased a new stake in Kardigan during the second quarter valued at approximately $716,000. Bank of America Corp DE bought a new stake in shares of Kardigan in the 2nd quarter valued at approximately $1,283,000. Citadel Advisors LLC bought a new stake in shares of Kardigan in the 2nd quarter valued at approximately $2,862,000. Finally, Braidwell LP purchased a new position in shares of Kardigan in the 2nd quarter worth approximately $7,155,000.

About Kardigan

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.