Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $17,190.18 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,898 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $4.41, for a total value of $17,190.18. Following the completion of the transaction, the chief executive officer directly owned 175,288 shares in the company, valued at approximately $773,020.08. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Performance

Shares of CVKD opened at $4.44 on Monday. Cadrenal Therapeutics, Inc. has a 52-week low of $4.14 and a 52-week high of $15.99. The business’s 50 day moving average price is $5.13 and its two-hundred day moving average price is $6.88. The firm has a market cap of $12.74 million, a PE ratio of -0.79 and a beta of 1.60.

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. Research analysts predict that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. HC Wainwright decreased their price target on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Wall Street Zen upgraded Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $13.00.

Institutional Inflows and Outflows

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

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.