Kardigan (NASDAQ:KARD) Upgraded to Strong-Buy at Jefferies Financial Group

Kardigan (NASDAQ:KARD) was upgraded by analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Wall Street Zen raised Kardigan to a “hold” rating in a research report on Saturday, June 27th. TD Cowen initiated coverage on shares of Kardigan in a research report on Monday. They issued a “buy” rating and a $46.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Kardigan in a research note on Monday. They issued an “overweight” rating and a $51.00 price objective for the company. Finally, Leerink Partners started coverage on shares of Kardigan in a research note on Monday. They issued an “outperform” rating and a $37.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, Kardigan presently has an average rating of “Strong Buy” and an average price target of $43.50.

Kardigan Stock Down 4.5%

Shares of NASDAQ KARD opened at $23.53 on Monday. Kardigan has a 52 week low of $16.25 and a 52 week high of $27.00.

Insider Activity

In other Kardigan news, Director Arch Venture Partners Xiii, Ll purchased 1,250,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $16.00 per share, with a total value 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 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 acquired 1,250,000 shares of the company’s stock in a transaction dated 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 purchase, the director directly owned 15,042,035 shares of the company’s stock, valued at $240,672,560. This trade represents a 9.06% increase in their position. The disclosure for this purchase is available in the SEC filing.