JPMorgan Chase & Co. Lowers Kardigan (NASDAQ:KARD) Price Target to $46.00

Kardigan (NASDAQ:KARD) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $51.00 to $46.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 122.87% from the company’s current price.

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

Kardigan Stock Down 1.8%

Shares of KARD stock opened at $20.64 on Tuesday. The stock has a 50 day moving average price of $21.98. Kardigan has a 12 month low of $16.25 and a 12 month high of $27.00.

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

Insider Transactions at Kardigan

In other Kardigan news, Director Paul L. Berns purchased 1,250,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was bought 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. This represents a 9.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arch Venture Partners Xiii, Ll 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.

Institutional Trading of Kardigan

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE bought a new stake in Kardigan in the 2nd quarter valued at approximately $1,283,000. Braidwell LP bought a new position in shares of Kardigan during the 2nd quarter worth approximately $7,155,000. Alyeska Investment Group L.P. bought a new position in shares of Kardigan during the 2nd quarter worth approximately $716,000. Legal & General Group Plc acquired a new stake in shares of Kardigan in the second quarter valued at approximately $119,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Kardigan in the second quarter valued at approximately $9,010,000.

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.