Kardigan, Inc. (NASDAQ:KARD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Kardigan, Inc. (NASDAQ:KARD) have been given an average recommendation of “Moderate Buy” by the five analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $43.50.

Several analysts recently commented on KARD shares. Leerink Partners began coverage on Kardigan in a research report on Monday, July 13th. They issued an “outperform” rating and a $37.00 target price on the stock. JPMorgan Chase & Co. started coverage on Kardigan in a research report on Monday, July 13th. They set an “overweight” rating and a $51.00 price target for the company. Wall Street Zen raised Kardigan to a “hold” rating in a research note on Saturday, June 27th. TD Cowen assumed coverage on Kardigan in a report on Monday, July 13th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Kardigan in a research note on Monday, July 13th. They set a “buy” rating and a $40.00 price objective on the stock.

Kardigan Stock Up 2.8%

NASDAQ KARD opened at $21.08 on Tuesday. Kardigan has a 12 month low of $16.25 and a 12 month high of $27.00.

Insider Activity at Kardigan

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

Institutional Trading of Kardigan

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

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.