Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells 3,298 Shares of Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,298 shares of Cadrenal Therapeutics stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $5.28, for a total value of $17,413.44. Following the sale, the chief executive officer directly owned 185,150 shares in the company, valued at $977,592. The trade was a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Performance

Shares of NASDAQ:CVKD traded down $0.09 during trading on Friday, hitting $4.91. 28,017 shares of the stock were exchanged, compared to its average volume of 54,242. The company has a market capitalization of $14.09 million, a price-to-earnings ratio of -0.87 and a beta of 1.81. The company’s fifty day simple moving average is $5.35 and its 200-day simple moving average is $7.20. Cadrenal Therapeutics, Inc. has a 1-year low of $4.21 and a 1-year high of $15.99.

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

Analyst Ratings Changes

A number of analysts recently weighed in on CVKD shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. HC Wainwright lowered their target price on shares of 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, Wall Street Zen raised shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.00.

Hedge Funds Weigh In On Cadrenal Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVKD. Geode Capital Management LLC boosted its position 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 in the last quarter. JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics in the third quarter valued at about $103,000. DRW Securities LLC acquired a new position in Cadrenal Therapeutics in the fourth quarter valued at about $171,000. Finally, Citadel Advisors LLC acquired a new position in Cadrenal Therapeutics in the third quarter valued at about $274,000. 7.92% of the stock is currently owned by institutional investors and hedge funds.

About Cadrenal Therapeutics

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.