Citadel Advisors LLC Invests $2.86 Million in Kardigan, Inc. $KARD

Citadel Advisors LLC purchased a new position in Kardigan, Inc. (NASDAQ:KARD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 120,000 shares of the company’s stock, valued at approximately $2,862,000.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in Kardigan during the second quarter valued at approximately $9,010,000. Legal & General Group Plc purchased a new stake in Kardigan in the 2nd quarter worth approximately $119,000. Jupiter Topco LLC bought a new position in Kardigan in the 2nd quarter valued at $17,715,000. Bank of America Corp DE bought a new position in Kardigan in the 2nd quarter valued at $1,283,000. Finally, Alyeska Investment Group L.P. bought a new position in Kardigan in the 2nd quarter valued at $716,000.

Insiders Place Their Bets

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

Kardigan Price Performance

Shares of Kardigan stock opened at $21.60 on Wednesday. Kardigan, Inc. has a 1 year low of $16.25 and a 1 year high of $27.00. The company’s 50 day moving average is $21.54.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Leerink Partners began coverage on shares of Kardigan in a report on Monday, July 13th. They issued an “outperform” rating and a $37.00 price target on the stock. TD Cowen began coverage on Kardigan in a research note on Monday, July 13th. They set a “buy” rating and a $46.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Kardigan from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, August 25th. Wall Street Zen lowered Kardigan from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Zacks Research upgraded Kardigan to a “hold” rating in a research note on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.25.

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.