Cadrenal Therapeutics (NASDAQ:CVKD) Releases Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Cadrenal Therapeutics (NASDAQ:CVKD) announced its quarterly earnings results on Thursday. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.28, FiscalAI reports.

Cadrenal Therapeutics Stock Up 0.5%

Shares of NASDAQ:CVKD opened at $1.87 on Friday. The firm has a market cap of $6.40 million, a P/E ratio of -0.38 and a beta of 1.84. Cadrenal Therapeutics has a 12-month low of $1.76 and a 12-month high of $14.64. The business has a fifty day simple moving average of $2.71 and a 200 day simple moving average of $4.82.

Insider Activity at Cadrenal Therapeutics

In other Cadrenal Therapeutics news, CEO Quang X. Pham sold 9,029 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $3.05, for a total value of $27,538.45. Following the sale, the chief executive officer owned 105,989 shares in the company, valued at approximately $323,266.45. The trade was a 7.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 87,726 shares of company stock valued at $333,575. Insiders own 14.59% of the company’s stock.

Hedge Funds Weigh In On Cadrenal Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CVKD. DRW Securities LLC acquired a new position in shares of Cadrenal Therapeutics in the 4th quarter worth approximately $171,000. Citadel Advisors LLC bought a new position in Cadrenal Therapeutics during the third quarter worth $274,000. Geode Capital Management LLC raised its stake in Cadrenal Therapeutics by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after buying an additional 1,818 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics in the third quarter valued at $103,000. 7.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVKD has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Friday, July 17th. Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cadrenal Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $13.00.

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.