Jupiter Topco LLC Takes $17.71 Million Position in Kardigan, Inc. $KARD

Jupiter Topco LLC purchased a new position in Kardigan, Inc. (NASDAQ:KARD) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 749,703 shares of the company’s stock, valued at approximately $17,715,000.

Separately, Legal & General Group Plc purchased a new position in Kardigan during the second quarter valued at approximately $119,000.

Insider Activity at Kardigan

In other Kardigan news, Director Arch Venture Partners Xiii, Ll purchased 1,250,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $16.00 per share, for a total transaction of $20,000,000.00. Following the acquisition, the director 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul L. Berns acquired 1,250,000 shares of Kardigan stock in a transaction that occurred 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 owned 15,042,035 shares in the company, valued at $240,672,560. The trade was a 9.06% increase in their position. The disclosure for this purchase is available in the SEC filing.

Kardigan Price Performance

Shares of Kardigan stock opened at $20.02 on Friday. The firm’s 50-day moving average price is $21.88. Kardigan, Inc. has a 52-week low of $16.25 and a 52-week high of $27.00.

Kardigan (NASDAQ:KARD) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($4.61) EPS for the quarter. Equities analysts expect that Kardigan, Inc. will post -5.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Leerink Partners started coverage on shares of Kardigan in a research note on Monday, July 13th. They issued an “outperform” rating and a $37.00 price objective on the stock. Zacks Research upgraded shares of Kardigan to a “hold” rating in a report on Wednesday, July 15th. Wall Street Zen cut shares of Kardigan from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. dropped their price target on shares of Kardigan from $51.00 to $46.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 25th. Finally, Jefferies Financial Group initiated coverage on Kardigan in a report on Monday, July 13th. They set a “buy” rating and a $40.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.