Kardigan, Inc. (NASDAQ:KARD) Short Interest Up ∞ in June

Kardigan, Inc. (NASDAQ:KARD - Get Free Report) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 1,468,859 shares, an increase of ∞ from the June 15th total of 0 shares. Currently, 1.6% of the company's stock are short sold. Based on an average trading volume of 1,091,887 shares, the days-to-cover ratio is currently 1.3 days.

Insider Activity at Kardigan

In other news, Director Arch Venture Partners Xiii, Ll bought 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 purchase, the director directly owned 15,042,035 shares in the company, valued at $240,672,560. This trade represents a 9.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul L. Berns purchased 1,250,000 shares of the company's 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 completion of the transaction, the director directly owned 15,042,035 shares of the company's stock, valued at $240,672,560. This represents a 9.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analysts Set New Price Targets

KARD has been the topic of a number of recent research reports. Wall Street Zen raised shares of Kardigan to a "hold" rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. initiated coverage on shares of Kardigan in a research report on Monday. They set an "overweight" rating and a $51.00 price target for the company. Leerink Partners started coverage on shares of Kardigan in a report on Monday. They issued an "outperform" rating and a $37.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Kardigan in a research note on Monday. They set a "buy" rating and a $40.00 target price for the company. Finally, TD Cowen assumed coverage on shares of Kardigan in a report on Monday. They set a "buy" rating and a $46.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $43.50.

View Our Latest Stock Report on KARD

Kardigan Stock Down 1.2%

NASDAQ:KARD opened at $21.99 on Thursday. Kardigan has a 52 week low of $16.25 and a 52 week high of $27.00.

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