This is a rare, high-conviction insider cluster buy at a uniform price of $16, suggesting insiders see material upside. Monitor for upcoming catalysts such as earnings, product announcements, or M&A that may have motivated the purchases. The $16 level may serve as a floor.
Price Chart
Executive Summary
Three insiders at Kardigan, including directors and 10% owners, collectively purchased $90M in open-market stock at $16/share on June 22, 2026. This represents approximately 4.7% of the company's $1.9B market cap, a highly material cluster buy that signals strong insider conviction.
Key Financial Metrics
Key Facts
- Three insiders purchased a total of 5.625M shares at $16/share for $90M on June 22, 2026
- Total purchase value equals ~4.7% of KARD's $1.9B market cap
- All transactions were open-market purchases (code P), not option exercises or grants
- Buyers include two directors and two 10% owners (HRTG GPE, LLC; ARCH Venture Partners XIII, LLC; Paul L. Berns)
- No insider sales were reported in the cluster window
Financial Impact
$90M in insider purchases, representing ~4.7% of market cap
Risk Factors
- Insiders may have non-public information that is not yet reflected in the stock price
- The stock could trade down if the anticipated catalyst fails to materialize
- Concentrated ownership by a few entities could lead to future selling pressure
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-KARD-1782350792186 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 25d ago | SC 13D/A | $14.79 | awaiting T+60 | — | $13.44 (−9.16%) |
Sep 30, 2026 27d ago | 8-K | $14.75 | awaiting T+60 | — | $13.44 (−8.92%) |
Aug 11, 2026 11w ago | 8-K | $22.06 | awaiting T+60 | — | $13.44 (−39.10%) |
Jun 24, 2026 17w ago | Insider Cluster | $22.58 $16.64 | ▼ −26.31% | ▼ −30.04% | $13.44 (−40.50%) |
Jun 18, 2026 18w ago | 3 | $22.00 $19.05 | ▼ −13.41% | ▼ −15.30% | $13.44 (−38.93%) |
Jun 18, 2026 18w ago | 3 | $22.00 $19.05 | ▼ −13.41% | ▼ −15.30% | $13.44 (−38.93%) |
Jun 18, 2026 18w ago | 3 | $22.00 $19.05 | ▼ −13.41% | ▼ −15.30% | $13.44 (−38.93%) |
Jun 18, 2026 18w ago | 3 | $22.00 $19.05 | ▼ −13.41% | ▼ −15.30% | $13.44 (−38.93%) |
Jun 18, 2026 18w ago | 3 | $22.00 $19.05 | ▼ −13.41% | ▼ −15.30% | $13.44 (−38.93%) |
Jun 18, 2026 18w ago | 3 | $22.00 $19.05 | ▼ −13.41% | ▼ −15.30% | $13.44 (−38.93%) |
US Market Status
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