Kardigan, Inc. (NASDAQ:KARD) Sees Significant Increase in Short Interest

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

Insider Activity

In other Kardigan news, Director Arch Venture Partners Xiii, Ll bought 1,250,000 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $16.00 per share, with a total value of $20,000,000.00. Following the transaction, the director owned 15,042,035 shares in the company, valued at $240,672,560. This represents a 9.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul L. Berns bought 1,250,000 shares of the stock in a transaction on Monday, June 22nd. The shares were bought at an average price of $16.00 per share, for a total transaction of $20,000,000.00. Following the purchase, the director directly owned 15,042,035 shares in the company, valued at approximately $240,672,560. This trade represents a 9.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Kardigan in a report on Monday. They issued a “buy” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Kardigan in a report on Monday. They set an “overweight” rating and a $51.00 price target on the stock. TD Cowen initiated coverage on Kardigan in a research note on Monday. They issued a “buy” rating and a $46.00 price target on the stock. Wall Street Zen upgraded Kardigan to a “hold” rating in a research report on Saturday, June 27th. Finally, Leerink Partners started coverage on Kardigan in a research report on Monday. They issued an “outperform” rating and a $37.00 target price on the stock. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Kardigan presently has a consensus rating of “Buy” and a consensus target price of $43.50.

Kardigan Stock Down 1.2%

KARD stock opened at $21.99 on Thursday. Kardigan has a twelve month low of $16.25 and a twelve month high of $27.00.