Cadrenal Therapeutics (NASDAQ:CVKD) CEO Quang Pham Sells 2,989 Shares

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 2,989 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.93, for a total value of $14,735.77. Following the completion of the transaction, the chief executive officer directly owned 182,161 shares in the company, valued at approximately $898,053.73. This represents a 1.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 $4.96 on Friday. The firm has a market cap of $14.24 million, a P/E ratio of -0.88 and a beta of 1.81. The business’s fifty day moving average is $5.31 and its two-hundred day moving average is $7.18. Cadrenal Therapeutics, Inc. has a 52 week low of $4.21 and a 52 week high of $15.99.

Cadrenal Therapeutics (NASDAQ:CVKD) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.51) by $0.47. On average, equities research analysts predict that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current year.

Hedge Funds Weigh In On Cadrenal Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new position in Cadrenal Therapeutics in the fourth quarter valued at about $171,000. Citadel Advisors LLC acquired a new position in Cadrenal Therapeutics in the third quarter valued at about $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 buying an additional 1,818 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics in the third quarter valued at about $103,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVKD shares. HC Wainwright cut their price target on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.