Montanova Capital LLC Acquires New Holdings in Kardigan, Inc. $KARD

Montanova Capital LLC acquired a new stake in Kardigan, Inc. (NASDAQ:KARD) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 400,000 shares of the company’s stock, valued at approximately $9,540,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in shares of Kardigan during the second quarter worth about $119,000. Alyeska Investment Group L.P. acquired a new position in shares of Kardigan during the 2nd quarter worth about $716,000. Bank of America Corp DE bought a new stake in Kardigan in the second quarter valued at approximately $1,283,000. Bank of New York Mellon Corp bought a new stake in Kardigan in the 2nd quarter valued at $9,010,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Kardigan during the 2nd quarter worth about $17,715,000.

Kardigan Stock Performance

KARD opened at $20.16 on Tuesday. The firm has a 50 day moving average of $21.83. Kardigan, Inc. has a 1-year low of $16.25 and a 1-year high of $27.00.

Kardigan (NASDAQ:KARD) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($4.61) earnings per share (EPS) for the quarter. On average, analysts expect that Kardigan, Inc. will post -5.14 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Kardigan

In other news, Director Arch Venture Partners Xiii, Ll acquired 1,250,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price 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 $240,672,560. The trade was a 9.06% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul L. Berns acquired 1,250,000 shares of Kardigan stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $16.00 per share, for a total transaction of $20,000,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing.

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.