Kardigan (NASDAQ:KARD) Posts Earnings Results, Beats Expectations By $0.16 EPS

Kardigan (NASDAQ:KARD) announced its earnings results on Thursday. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.16, FiscalAI reports.

Kardigan Stock Down 0.3%

KARD traded down $0.04 on Friday, reaching $14.08. 248,841 shares of the stock were exchanged, compared to its average volume of 513,415. The firm’s 50-day moving average is $15.28. Kardigan has a fifty-two week low of $12.23 and a fifty-two week high of $27.00. The stock has a market capitalization of $1.32 billion and a price-to-earnings ratio of -4.89.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KARD. Russell Investments Group Ltd. acquired a new stake in shares of Kardigan during the third quarter worth about $31,000. China Universal Asset Management Co. Ltd. acquired a new position in Kardigan in the 3rd quarter worth approximately $47,000. Legal & General Group Plc acquired a new position in Kardigan in the 2nd quarter worth approximately $119,000. Squarepoint Ops LLC purchased a new position in Kardigan during the 2nd quarter worth approximately $247,000. Finally, Alyeska Investment Group L.P. purchased a new position in Kardigan during the 2nd quarter worth approximately $716,000.

Analysts Set New Price Targets

KARD has been the subject of a number of research analyst reports. UBS Group started coverage on Kardigan in a research note on Monday, October 12th. They issued a “buy” rating and a $25.00 price target for the company. Weiss Ratings downgraded shares of Kardigan from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. Robert W. Baird assumed coverage on shares of Kardigan in a research report on Wednesday, October 21st. They issued an “outperform” rating and a $43.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Kardigan from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, August 25th. Finally, HC Wainwright initiated coverage on shares of Kardigan in a research note on Wednesday, November 4th. They issued a “buy” rating and a $42.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.12.

About Kardigan

Kardigan is a biopharmaceutical company focused on developing medicines for cardiovascular diseases. Its work centers on advancing therapeutic candidates intended to address heart and vascular conditions. The company’s activities include research and development of a pipeline of cardiovascular drug candidates. Kardigan was launched as a biotechnology company in 2024; detailed information about its commercial products and geographic operations is limited.