Kardigan (NASDAQ:KARD) Posts Earnings Results, Beats Expectations By $0.16 EPS

Kardigan (NASDAQ:KARD) released its quarterly earnings data on Thursday. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.16, FiscalAI reports.

Kardigan Stock Down 9.9%

Shares of NASDAQ:KARD traded down $1.56 on Thursday, hitting $14.12. The company’s stock had a trading volume of 345,772 shares, compared to its average volume of 516,225. The firm’s 50-day moving average price is $15.44. Kardigan has a 1 year low of $12.23 and a 1 year high of $27.00. The stock has a market cap of $1.32 billion and a P/E ratio of -4.90.

Analyst Upgrades and Downgrades

KARD has been the subject of several analyst reports. Robert W. Baird assumed coverage on Kardigan in a research note on Wednesday, October 21st. They issued an “outperform” rating and a $43.00 target price for the company. Zacks Research raised Kardigan to a “hold” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price target on Kardigan from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 25th. HC Wainwright began coverage on shares of Kardigan in a report on Wednesday, November 4th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Kardigan from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Kardigan presently has an average rating of “Moderate Buy” and a consensus target price of $41.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new position in Kardigan in the third quarter worth $31,000. China Universal Asset Management Co. Ltd. bought a new stake in Kardigan during the third quarter worth about $47,000. Legal & General Group Plc bought a new stake in Kardigan during the second quarter worth about $119,000. Squarepoint Ops LLC bought a new stake in Kardigan during the second quarter worth about $247,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Kardigan in the 2nd quarter worth about $716,000.

About Kardigan

Kardigan is a biopharmaceutical company focused on developing medicines for cardiovascular diseases. Its work centers on advancing therapeutic candidates intended to address heart and vascular conditions. The company’s activities include research and development of a pipeline of cardiovascular drug candidates. Kardigan was launched as a biotechnology company in 2024; detailed information about its commercial products and geographic operations is limited.