Kardigan (NASDAQ:KARD) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Kardigan (NASDAQ:KARD) in a research note issued to investors on Monday,Benzinga reports. The brokerage set an “overweight” rating and a $51.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 106.98% from the stock’s previous close.

Several other research analysts have also commented on the company. Jefferies Financial Group assumed coverage on Kardigan in a research report on Monday. They issued a “buy” rating and a $40.00 target price for the company. Wall Street Zen upgraded Kardigan to a “hold” rating in a research note on Saturday, June 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Kardigan currently has a consensus rating of “Buy” and a consensus target price of $45.50.

Kardigan Stock Performance

Shares of Kardigan stock opened at $24.64 on Monday. Kardigan has a fifty-two week low of $16.25 and a fifty-two week high of $27.00.

Insider Activity

In related news, Director Arch Venture Partners Xiii, Ll purchased 1,250,000 shares of Kardigan stock in a transaction dated Monday, June 22nd. The stock was bought 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 approximately $240,672,560. The trade was a 9.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul L. Berns acquired 1,250,000 shares of the firm’s stock in a transaction dated 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 acquisition, 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 ownership of the stock. The SEC filing for this purchase provides additional information.