Analysts Set Kardigan, Inc. (NASDAQ:KARD) Price Target at $43.50

Kardigan, Inc. (NASDAQ:KARD) has earned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.50.

KARD has been the subject of several research analyst reports. Zacks Research raised shares of Kardigan to a “hold” rating in a research report on Wednesday, July 15th. Leerink Partners initiated coverage on Kardigan in a research note on Monday, July 13th. They issued an “outperform” rating and a $37.00 target price on the stock. Wall Street Zen cut Kardigan from a “hold” rating to a “sell” rating in a report on Saturday. Jefferies Financial Group began coverage on shares of Kardigan in a report on Monday, July 13th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, TD Cowen started coverage on Kardigan in a research report on Monday, July 13th. They issued a “buy” rating and a $46.00 target price for the company.

Kardigan Trading Up 1.7%

Kardigan stock opened at $20.55 on Tuesday. Kardigan has a 12-month low of $16.25 and a 12-month high of $27.00. The business’s fifty day moving average price is $22.10.

Kardigan (NASDAQ:KARD) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($4.61) EPS for the quarter. On average, equities analysts expect that Kardigan will post -3.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Kardigan news, Director Arch Venture Partners Xiii, Ll bought 1,250,000 shares of Kardigan stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $20,000,000.00. Following the completion of the acquisition, the director 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul L. Berns acquired 1,250,000 shares of Kardigan stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $16.00 per share, with a total value of $20,000,000.00. Following the completion of the purchase, 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 disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jupiter Topco LLC purchased a new position in Kardigan during the 2nd quarter valued at about $17,715,000. Bank of New York Mellon Corp acquired a new position in shares of Kardigan during the 2nd quarter worth $9,010,000. Bank of America Corp DE bought a new position in Kardigan during the second quarter valued at about $1,283,000. Finally, Legal & General Group Plc bought a new position in shares of Kardigan in the second quarter valued at approximately $119,000.

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.