Kardigan (NASDAQ:KARD) Posts Earnings Results

Kardigan (NASDAQ:KARD) announced its quarterly earnings data on Tuesday. The company reported ($4.61) earnings per share (EPS) for the quarter, FiscalAI reports.

Kardigan Stock Down 1.3%

Shares of NASDAQ:KARD traded down $0.29 during trading on Wednesday, reaching $21.77. The company’s stock had a trading volume of 166,883 shares, compared to its average volume of 385,291. Kardigan has a 12 month low of $16.25 and a 12 month high of $27.00.

Insider Activity at Kardigan

In related news, Director Arch Venture Partners Xiii, Ll acquired 1,250,000 shares of the stock in a transaction dated 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 directly owned 15,042,035 shares of the company’s stock, valued at approximately $240,672,560. This trade represents a 9.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul L. Berns bought 1,250,000 shares of the company’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 acquisition, the director owned 15,042,035 shares in the company, valued at approximately $240,672,560. This trade represents a 9.06% increase in their position. The disclosure for this purchase is available in the SEC filing.

Institutional Trading of Kardigan

A hedge fund recently bought a new position in Kardigan stock. Bank of New York Mellon Corp acquired a new position in shares of Kardigan, Inc. (NASDAQ:KARD) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 377,758 shares of the company’s stock, valued at approximately $9,010,000. Bank of New York Mellon Corp owned 0.42% of Kardigan as of its most recent SEC filing.

Analysts Set New Price Targets

Several equities analysts have weighed in on KARD shares. Jefferies Financial Group initiated coverage on shares of Kardigan in a report on Monday, July 13th. They set a “buy” rating and a $40.00 price target on the stock. Zacks Research raised shares of Kardigan to a “hold” rating in a research note on Wednesday, July 15th. Leerink Partners started coverage on shares of Kardigan in a research report on Monday, July 13th. They set an “outperform” rating and a $37.00 price objective on the stock. TD Cowen initiated coverage on shares of Kardigan in a research note on Monday, July 13th. They set a “buy” rating and a $46.00 target price on the stock. Finally, Wall Street Zen raised shares of Kardigan to a “hold” rating in a report on Saturday, June 27th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Kardigan presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

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.