Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $25,811.34 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 5,893 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $4.38, for a total value of $25,811.34. Following the completion of the transaction, the chief executive officer directly owned 167,331 shares in the company, valued at $732,909.78. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Down 8.2%

Shares of NASDAQ:CVKD opened at $3.70 on Friday. Cadrenal Therapeutics, Inc. has a 52-week low of $3.70 and a 52-week high of $14.69. The stock has a market cap of $10.62 million, a P/E ratio of -0.66 and a beta of 1.59. The business’s 50 day moving average is $5.04 and its 200 day moving average is $6.66.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) EPS for the quarter, topping the consensus estimate of ($1.51) by $0.47. On average, sell-side analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVKD has been the topic of several research reports. Wall Street Zen upgraded Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. 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. Finally, Weiss Ratings restated 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’s stock. Based on data from MarketBeat.com, Cadrenal Therapeutics presently has a consensus rating of “Hold” and an average target price of $13.00.

Institutional Trading of Cadrenal Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in Cadrenal Therapeutics during the 3rd quarter valued at $103,000. Geode Capital Management LLC boosted its position in Cadrenal Therapeutics by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after acquiring an additional 1,818 shares in the last quarter. Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics during the 3rd quarter valued at $274,000. Finally, DRW Securities LLC bought a new stake in Cadrenal Therapeutics during the 4th quarter valued at $171,000. Institutional investors own 7.92% of the company’s stock.

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.