Kardigan, Inc. (NASDAQ:KARD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Kardigan, Inc. (NASDAQ:KARD) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $43.50.

Several equities research analysts have recently commented on the stock. Leerink Partners began coverage on shares of Kardigan in a research report on Monday. They set an “outperform” rating and a $37.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Kardigan in a report on Monday. They issued an “overweight” rating and a $51.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Kardigan in a report on Monday. They set a “buy” rating and a $40.00 target price for the company. Zacks Research upgraded shares of Kardigan to a “hold” rating in a research report on Wednesday. Finally, Wall Street Zen raised Kardigan to a “hold” rating in a research note on Saturday, June 27th.

Insider Activity

In related news, Director Arch Venture Partners Xiii, Ll purchased 1,250,000 shares of the 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 directly owned 15,042,035 shares in the company, valued at $240,672,560. The trade was a 9.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul L. Berns purchased 1,250,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased 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 directly 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. Additional details regarding this purchase are available in the official SEC disclosure.

Kardigan Trading Down 4.4%

Shares of NASDAQ:KARD opened at $21.02 on Friday. Kardigan has a 1-year low of $16.25 and a 1-year high of $27.00.