HC Wainwright Initiates Coverage on Kardigan (NASDAQ:KARD)

Key Points

• HC Wainwright initiated coverage with a Buy rating and a $42 price target, implying 193.3% upside from Kardigan’s previous close.
• Analyst sentiment is mostly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $41.12, though one analyst rates the stock Sell.
• Kardigan reported a quarterly loss of $4.61 per share, and analysts expect a $3.51-per-share loss for the current fiscal year.

Investment analysts at HC Wainwright began coverage on shares of Kardigan (NASDAQ:KARD - Get Free Report) in a report issued on Wednesday, Briefing.com reports. The brokerage set a "buy" rating and a $42.00 price target on the stock. HC Wainwright's price target points to a potential upside of 193.30% from the company's previous close.

Several other equities analysts have also issued reports on the stock. TD Cowen initiated coverage on shares of Kardigan in a report on Monday, July 13th. They issued a "buy" rating and a $46.00 price target for the company. Robert W. Baird started 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. Weiss Ratings assumed coverage on Kardigan in a research note on Monday, September 14th. They set a "sell (d)" rating on the stock. Zacks Research upgraded Kardigan to a "hold" rating in a report on Wednesday, July 15th. Finally, Leerink Partners assumed coverage on Kardigan in a report on Monday, July 13th. They set an "outperform" rating and a $37.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Kardigan currently has an average rating of "Moderate Buy" and an average price target of $41.12.

Kardigan Stock Performance

Kardigan stock opened at $14.32 on Wednesday. The business's 50 day moving average price is $16.07. Kardigan has a fifty-two week low of $12.23 and a fifty-two week high of $27.00.

Kardigan (NASDAQ:KARD - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($4.61) EPS for the quarter. Analysts expect that Kardigan will post -3.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. bought a new stake in shares of Kardigan during the third quarter worth $47,000. Squarepoint Ops LLC acquired a new stake in shares of Kardigan during the second quarter worth $247,000. Citadel Advisors LLC acquired a new stake in shares of Kardigan during the second quarter worth $2,862,000. Braidwell LP acquired a new stake in shares of Kardigan during the second quarter worth $7,155,000. Finally, Montanova Capital LLC bought a new stake in Kardigan in the 2nd quarter valued at $9,540,000.

About Kardigan

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