Braidwell LP Takes $7.16 Million Position in Kardigan, Inc. $KARD

Braidwell LP bought a new position in Kardigan, Inc. (NASDAQ:KARD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 300,000 shares of the company’s stock, valued at approximately $7,155,000. Braidwell LP owned approximately 0.32% of Kardigan at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of KARD. Legal & General Group Plc acquired a new stake in Kardigan during the 2nd quarter valued at $119,000. Alyeska Investment Group L.P. acquired a new position in Kardigan in the second quarter worth $716,000. Bank of America Corp DE acquired a new position in Kardigan in the second quarter worth $1,283,000. Bank of New York Mellon Corp bought a new stake in shares of Kardigan during the second quarter worth $9,010,000. Finally, Montanova Capital LLC bought a new stake in shares of Kardigan during the second quarter worth $9,540,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on KARD shares. Jefferies Financial Group started coverage on shares of Kardigan in a research report on Monday, July 13th. They set a “buy” rating and a $40.00 price target on the stock. Leerink Partners assumed coverage on shares of Kardigan in a research report on Monday, July 13th. They set an “outperform” rating and a $37.00 target price on the stock. TD Cowen began coverage on shares of Kardigan in a research note on Monday, July 13th. They set a “buy” rating and a $46.00 price target on the stock. Wall Street Zen lowered shares of Kardigan from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Zacks Research upgraded shares of Kardigan to a “hold” rating in a research report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Kardigan has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.

Kardigan Price Performance

Shares of KARD stock opened at $21.92 on Thursday. The stock has a 50-day moving average price of $21.78. Kardigan, Inc. has a 12 month low of $16.25 and a 12 month high of $27.00.

Kardigan (NASDAQ:KARD) last issued its earnings results on Tuesday, August 11th. The company reported ($4.61) earnings per share (EPS) for the quarter. Equities analysts anticipate that Kardigan, Inc. will post -5.14 earnings per share for the current fiscal year.

Insider Activity at Kardigan

In other Kardigan news, Director Arch Venture Partners Xiii, Ll acquired 1,250,000 shares of Kardigan stock in a transaction on Monday, June 22nd. The shares were purchased 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 $240,672,560. The trade was a 9.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul L. Berns bought 1,250,000 shares of the stock in a transaction on Monday, June 22nd. The shares were 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 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.

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.