Cadrenal Therapeutics (NASDAQ:CVKD) CEO Quang Pham Sells 7,400 Shares

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 7,400 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $3.03, for a total transaction of $22,422.00. Following the transaction, the chief executive officer directly owned 98,589 shares in the company, valued at $298,724.67. The trade was a 6.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Performance

Cadrenal Therapeutics stock opened at $3.60 on Friday. Cadrenal Therapeutics, Inc. has a fifty-two week low of $2.55 and a fifty-two week high of $14.64. The firm’s 50-day simple moving average is $4.57 and its 200 day simple moving average is $5.98. The stock has a market cap of $10.33 million, a PE ratio of -0.64 and a beta of 1.73.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) EPS for the quarter, beating the consensus estimate of ($1.51) by $0.47. As a group, analysts predict that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in shares of Cadrenal Therapeutics during the 3rd quarter worth approximately $103,000. Citadel Advisors LLC bought a new stake in shares of Cadrenal Therapeutics in the 3rd quarter worth approximately $274,000. Geode Capital Management LLC lifted its stake in Cadrenal Therapeutics by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after purchasing an additional 1,818 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in Cadrenal Therapeutics in the fourth quarter valued at approximately $171,000. 7.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVKD. HC Wainwright dropped their price target on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cadrenal Therapeutics presently has an average rating of “Hold” and an average target price of $13.00.

Cadrenal Therapeutics Company Profile

Cadrenal Therapeutics, Inc operates as a clinical development biopharmaceutical company. The company focuses on developing Tecarfarin, a novel oral and reversible anticoagulant to prevent heart attacks, strokes, and deaths due to blood clots in patients with rare cardiovascular conditions requiring chronic anticoagulation, such as patients with left ventricular assist devices, end-stage kidney disease, atrial fibrillation, and thrombotic anti-phospholipid syndrome. Cadrenal Therapeutics, Inc was incorporated in 2022 and is headquartered in Ponte Vedra, Florida.