Short Interest in Kardigan, Inc. (NASDAQ:KARD) Increases By ∞

Kardigan, Inc. (NASDAQ:KARD) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 1,468,859 shares, an increase of ∞ from the June 15th total of 0 shares. Based on an average daily volume of 1,091,887 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.6% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

KARD has been the subject of several recent analyst reports. Zacks Research raised Kardigan to a “hold” rating in a report on Wednesday. Jefferies Financial Group assumed coverage on shares of Kardigan in a research report on Monday. They issued a “buy” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of Kardigan in a research report on Monday. They set an “overweight” rating and a $51.00 price target for the company. Leerink Partners assumed coverage on Kardigan in a report on Monday. They issued an “outperform” rating and a $37.00 price objective on the stock. Finally, TD Cowen assumed coverage on Kardigan in a report on Monday. They set a “buy” rating and a $46.00 target price for the company. 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 an average rating of “Moderate Buy” and a consensus price target of $43.50.

Insider Buying and Selling

In other Kardigan news, Director Arch Venture Partners Xiii, Ll acquired 1,250,000 shares of Kardigan stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $16.00 per share, with a total value of $20,000,000.00. Following the completion of 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 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 the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $16.00 per share, with a total value of $20,000,000.00. Following the completion of the purchase, the director directly owned 15,042,035 shares in the company, valued at $240,672,560. The trade was a 9.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Kardigan Stock Performance

KARD traded up $0.11 on Friday, reaching $21.13. 413,356 shares of the company’s stock were exchanged, compared to its average volume of 553,098. Kardigan has a twelve month low of $16.25 and a twelve month high of $27.00.