Kardigan (NASDAQ:KARD) Stock Rating Lowered by Wall Street Zen

Kardigan (NASDAQ:KARD) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Kardigan in a report on Monday, July 13th. They set a “buy” rating and a $40.00 target price on the stock. TD Cowen initiated coverage on shares of Kardigan in a research report on Monday, July 13th. They set a “buy” rating and a $46.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Kardigan in a research note on Monday, July 13th. They set an “overweight” rating and a $51.00 price objective on the stock. Zacks Research upgraded Kardigan to a “hold” rating in a research note on Wednesday, July 15th. Finally, Leerink Partners began coverage on Kardigan in a report on Monday, July 13th. They set an “outperform” rating and a $37.00 target price for the company. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Kardigan presently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

Kardigan Price Performance

Shares of NASDAQ KARD opened at $20.20 on Friday. Kardigan has a twelve month low of $16.25 and a twelve month high of $27.00. The firm has a 50 day moving average price of $22.14.

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

Insider Buying and Selling

In other Kardigan news, Director Arch Venture Partners Xiii, Ll acquired 1,250,000 shares of the firm’s 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 acquisition, the director directly owned 15,042,035 shares of the company’s stock, valued at $240,672,560. This represents a 9.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul L. Berns bought 1,250,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $16.00 per share, for a total transaction of $20,000,000.00. Following the completion of the transaction, the director owned 15,042,035 shares in the company, valued at $240,672,560. This trade represents a 9.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Institutional Trading of Kardigan

Several hedge funds have recently added to or reduced their stakes in KARD. Jupiter Topco LLC bought a new position in shares of Kardigan in the second quarter worth $17,715,000. Bank of New York Mellon Corp acquired a new position in shares of Kardigan during the second quarter valued at $9,010,000. Finally, Legal & General Group Plc bought a new stake in shares of Kardigan during the second quarter valued at about $119,000.

About Kardigan

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.