KARD
Kardigan, Inc.
NasdaqGMUSDEQUITY
Healthcare
DELAYED
Sell
-25/100
Last price
13.49
▼ 1.75 (11.48%)
MARKET · —
Price
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Interval
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Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
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Open
—
Prev close
15.24
Day high
15.25
Day low
12.52
Volume
1.56M
Market cap
$1.26B
P/E (TTM)
—
52W range
12.52 – 27.00
Trailing performance
Returnvs SPY
1W
-7.98%
-9.9%
1M
-35.30%
-36.5%
3M
-39.29%
-43.8%
6M
—
-18.2%
YTD
-38.68%
-52.9%
1Y
—
-16.4%
3Y
—
-82.3%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
11 more panels on KARD open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
14.57M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Jun 22, 26 | BERNS PAUL L Director and Beneficial Owner of more than 10% of a Class of Security |
BUY | 1.25M | $20.00M | Indirect |
| Jun 22, 26 | ARCH VENTURE PARTNERS XIII, LLC Beneficial Owner of more than 10% of a Class of Security |
BUY | 1.25M | $20.00M | Indirect |
| Jun 22, 26 | HRTG GPE, L.L.C Beneficial Owner of more than 10% of a Class of Security |
BUY | 3.13M | $50.00M | Indirect |
| Jun 17, 26 | POPOVITS KIMBERLY J Director |
— | 20.71K | — | Direct |
| Jun 17, 26 | BERNS PAUL L Director and Beneficial Owner of more than 10% of a Class of Security |
— | 20.71K | — | Direct |
| Jun 17, 26 | BERNS PAUL L Director and Beneficial Owner of more than 10% of a Class of Security |
— | 13.79M | — | Indirect |
| Jun 17, 26 | WALBERT TIMOTHY P Director |
— | 20.71K | — | Direct |
| Jun 17, 26 | MEEKER DAVID P Director |
— | 20.71K | — | Direct |
| Jun 17, 26 | GIORDANO DOUGLAS E Director |
— | 20.71K | — | Direct |
| Jun 17, 26 | MORIARTY JOHN B Officer |
— | 47.78K | — | Direct |
| Jun 17, 26 | GIANAKAKOS TOM ANASTASIOS Chief Executive Officer |
— | 568.39K | — | Indirect |
| Jun 17, 26 | PERCEPTIVE ADVISORS, L.L.C. Unknown |
— | 20.71K | — | Indirect |
| Jun 17, 26 | JAHN BRIANNE Chief Financial Officer |
— | 79.64K | — | Direct |
| Jun 17, 26 | ARCH VENTURE PARTNERS XIII, LLC Beneficial Owner of more than 10% of a Class of Security |
— | 13.79M | — | Indirect |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ARCH VENTURE PARTNERS XIII, LLC |
Beneficial Owner of more than 10% of a Class of Security | — | Purchase |
BERNS PAUL L |
Director and Beneficial Owner of more than 10% of a Class of Security | — | Purchase |
EDELBERG JAY M.D., PH.D. |
Officer | 4.64M | Stock Award(Grant) |
GIANAKAKOS TOM ANASTASIOS |
Chief Executive Officer | — | Conversion of Exercise of derivative security |
HRTG GPE, L.L.C |
Beneficial Owner of more than 10% of a Class of Security | — | Purchase |
JAHN BRIANNE |
Chief Financial Officer | 79.64K | Stock Award(Grant) |
MORIARTY JOHN B |
Officer | 47.78K | Stock Award(Grant) |
PASTERNAK ANDY |
Officer | 79.64K | Stock Award(Grant) |
POPOVITS KIMBERLY J |
Director | 20.71K | Stock Award(Grant) |
WALBERT TIMOTHY P |
Director | 20.71K | Stock Award(Grant) |
Fundamentals
Market cap$1.26B
Enterprise value$677.12M
Revenue (TTM)—
Gross profit—
EBITDA$-265.68M
Net income$-288.78M
EPS (TTM)$-10.65
Free cash flow—
Total cash$597.60M
Total debt$13.35M
Book value / share$6.59
Shares outstanding93.50M
Float51.76M
Short % of float3.22%
Dividend yield0.00%
Beta (5Y)—
Valuation & profitability ratios
Trailing P/E—
Forward P/E-4.22
PEG ratio—
Price / sales—
Price / book2.05
EV / revenue—
EV / EBITDA-2.55
Gross margin0.00%
Operating margin0.00%
Profit margin0.00%
Return on equity—
Return on assets—
Debt / equity2.17
Current ratio8.72
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | YoY |
|---|---|---|---|
| Total revenue | $0 | $0 | — |
| Operating revenue | $0 | $0 | — |
| Research & development | $153.09M | $84.29M | +81.6% |
| Selling, general & admin | $48.75M | $12.36M | +294.4% |
| Total operating expense | $201.84M | $96.66M | +108.8% |
| Operating income | -$201.84M | -$96.66M | -108.8% |
| Net interest income | $6.85M | $1.29M | +429.8% |
| Pre-tax income | -$196.45M | -$88.66M | -121.6% |
| Tax provision | -$4.51M | $0 | — |
| Net income | -$191.94M | -$88.66M | -116.5% |
| Net income to common | -$191.94M | -$88.66M | -116.5% |
| Basic EPS | -3.20 | -1.42 | -124.9% |
| Diluted EPS | -3.20 | -1.42 | -124.9% |
| EBIT | -$201.84M | -$96.66M | -108.8% |
| EBITDA | -$195.99M | -$96.31M | -103.5% |
| Basic shares | 59.96M | 62.30M | -3.8% |
| Diluted shares | 59.96M | 62.30M | -3.8% |
| Line item | 2025 | 2024 | YoY |
|---|---|---|---|
| Cash & equivalents | $108.99M | $49.40M | +120.6% |
| Cash & short-term investments | $335.49M | $49.40M | +579.1% |
| Total current assets | $345.35M | $50.32M | +586.3% |
| Property, plant & equipment | $18.23M | $11.13M | +63.8% |
| Goodwill & intangibles | $23.23M | $0 | — |
| Total assets | $390.94M | $63.53M | +515.4% |
| Total current liabilities | $37.54M | $8.29M | +353.1% |
| Total debt | $13.83M | $9.54M | +44.9% |
| Total liabilities | $641.28M | $146.72M | +337.1% |
| Retained earnings | -$281.09M | -$89.15M | -215.3% |
| Shareholder equity | -$250.34M | -$83.19M | -200.9% |
| Working capital | $307.82M | $42.03M | +632.3% |
| Net tangible assets | -$273.56M | -$83.19M | -228.8% |
| Shares issued | 89.34M | 89.34M | 0.0% |
| Line item | 2025 | 2024 | YoY |
|---|---|---|---|
| Net income | -$191.94M | -$88.66M | -116.5% |
| Depreciation & amortisation | $5.85M | $346.00K | +1,589.9% |
| Stock-based compensation | $15.85M | $5.95M | +166.3% |
| Change in working capital | $6.43M | $4.85M | +32.5% |
| Operating cash flow | -$151.06M | -$18.82M | -702.4% |
| Capital expenditure | -$6.64M | -$36.42M | +81.8% |
| Investing cash flow | -$237.04M | -$36.42M | -550.9% |
| Financing cash flow | $447.81M | $105.01M | +326.4% |
| Free cash flow | -$157.70M | -$55.24M | -185.5% |
| End cash position | $109.53M | $49.81M | +119.9% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | — |
| Operating revenue | $0 | $0 | $0 | $0 | — |
| Research & development | $56.37M | $45.07M | $35.84M | $18.77M | +25.1% |
| Selling, general & admin | $18.87M | $13.64M | $21.29M | $7.30M | +38.3% |
| Total operating expense | $75.23M | $58.71M | $57.13M | $26.08M | +28.1% |
| Operating income | -$75.23M | -$58.71M | -$57.13M | -$26.08M | -28.1% |
| Net interest income | $2.77M | $2.79M | $1.07M | $832.00K | -1.0% |
| Pre-tax income | -$116.24M | -$56.07M | -$57.45M | -$22.19M | -107.3% |
| Tax provision | $0 | $0 | $0 | -$4.17M | — |
| Net income | -$116.24M | -$56.07M | -$57.45M | -$18.02M | -107.3% |
| Net income to common | -$116.24M | -$56.07M | -$57.45M | -$18.02M | -107.3% |
| Basic EPS | -4.61 | -0.90 | -0.92 | -0.29 | -412.2% |
| Diluted EPS | -4.61 | -0.90 | -0.92 | -0.29 | -412.2% |
| EBIT | -$75.23M | -$58.71M | -$57.13M | -$26.08M | -28.1% |
| EBITDA | -$73.05M | -$56.59M | -$55.64M | -$25.33M | -29.1% |
| Basic shares | 25.20M | 62.30M | 62.30M | 62.30M | -59.6% |
| Diluted shares | 25.20M | 62.30M | 62.30M | 62.30M | -59.6% |
| Line item | 2026-06-30 | 2026-03-31 | YoY |
|---|---|---|---|
| Cash & equivalents | $384.00M | $81.55M | +370.9% |
| Cash & short-term investments | $597.60M | $287.11M | +108.1% |
| Total current assets | $610.16M | $298.13M | +104.7% |
| Property, plant & equipment | $18.79M | $19.28M | -2.5% |
| Goodwill & intangibles | $26.42M | $26.19M | +0.9% |
| Total assets | $721.79M | $348.19M | +107.3% |
| Total current liabilities | $70.00M | $31.66M | +121.1% |
| Total debt | $13.35M | $13.92M | -4.1% |
| Total liabilities | $106.26M | $648.82M | -83.6% |
| Retained earnings | -$453.40M | -$337.16M | -34.5% |
| Shareholder equity | $615.52M | -$300.63M | +304.7% |
| Working capital | $540.16M | $266.47M | +102.7% |
| Net tangible assets | $589.10M | -$326.82M | +280.3% |
| Shares issued | 89.34M | 89.34M | 0.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|
| Net income | -$116.24M | -$56.07M | -$57.45M | -$18.02M | -107.3% |
| Depreciation & amortisation | $2.18M | $2.12M | $1.48M | $752.00K | +3.0% |
| Stock-based compensation | $11.70M | $5.36M | $4.29M | $2.94M | +118.3% |
| Change in working capital | $7.72M | -$4.60M | $4.60M | -$246.00K | +267.7% |
| Operating cash flow | -$50.55M | -$56.78M | -$31.38M | -$21.40M | +11.0% |
| Capital expenditure | -$2.27M | -$2.63M | -$2.06M | -$542.00K | +13.9% |
| Investing cash flow | -$73.90M | $19.01M | -$2.06M | -$4.50M | -488.7% |
| Financing cash flow | $426.91M | $10.32M | $184.00K | $100.00M | +4,035.5% |
| Free cash flow | -$52.82M | -$59.41M | -$33.44M | -$21.94M | +11.1% |
| End cash position | $384.55M | $82.09M | $90.66M | $123.91M | +368.5% |
Options analytics
Put / call volume
0.00
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
15.00
+11.2% from spot
ATM implied vol
25.0%
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
16
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
15.00
0 contracts
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.64 | -2.89 | -350.5% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.77 | 3 | $0 | — |
| Next quarter | -0.82 | 3 | $0 | — |
| Current year | -4.54 | 3 | $0 | — |
| Next year | -3.20 | 3 | $0 | 0.0% |
Analyst targets & ownership
Mean target$42.25
High target$46.00
Low target$37.00
Implied upside213.19%
Analyst count4
ConsensusSTRONG BUY
Strong buy / Buy1 / 3
Hold0
Sell / Strong sell0 / 0
Held by insiders15.58%
Held by institutions78.13%
Institutions holding93
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
14.57
-7.39% from price
SMA 20
16.18
-16.61% from price
SMA 50
18.94
-28.79% from price
SMA 100
—
—
SMA 200
—
—
EMA 12
15.16
-11.00% from price
EMA 26
16.68
-19.14% from price
EMA 50
18.42
-26.76% from price
RSI (14)
30.0
Oversold
MACD (12,26,9)
-1.53
Hist -0.05
ATR (14)
1.32
9.82% of price
Realised vol 30D
75.6%
Annualised
Bollinger upper
19.86
20, 2σ
Bollinger lower
12.50
20, 2σ
50 / 200 cross
—
—
Trend bias
—
—
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
1.81
More volatile than market
Correlation to SPY
0.29
Largely independent
Realised vol 30D
75.6%
Annualised
Market vol 1Y
11.2%
SPY, annualised
Max drawdown 1Y
-47.9%
Peak to trough
Max drawdown 5Y
-47.9%
Peak to trough
ATR 14
1.32
9.82% of price
Beta (reported)
—
5Y monthly, from filing
Short interest
Shares short
2.57M
Prior 1.94M
Change vs prior
+32.6%
Shorts adding
% of float
3.22%
Normal
% of shares out
2.75%
Against total outstanding
Days to cover
7.9
Crowded exit
Float
51.76M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 25, 26 | JP Morgan | MAINTAINED | Overweight | Overweight |
| Jul 13, 26 | TD Cowen | INITIATED | — | Buy |
| Jul 13, 26 | Leerink Partners | INITIATED | — | Outperform |
| Jul 13, 26 | JP Morgan | INITIATED | — | Overweight |
| Jul 13, 26 | Jefferies | INITIATED | — | Buy |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio—
Ex-dividend date—
Next pay date—
Last split—
Split date—
SEC filings
Headlines
Kardigan Announces Appointment of Kristin Reinke to its Board of Directors
Business Wire · 7d ago
Kardigan to Present at Two September Investor Conferences
Business Wire · 35d ago
Kardigan: Q2 Earnings Snapshot
Associated Press · 57d ago
Kardigan Reports Second Quarter 2026 Financial Results and Recent Business Updates
Business Wire · 57d ago
2 ‘Strong Buy’ IPO Stocks JPMorgan Thinks Are Worth Watching
TipRanks · 68d ago
PRIVATE STRATEGY · BY QUALIFICATION
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