Quang Pham Sells 6,476 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 6,476 shares of Cadrenal Therapeutics stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $5.76, for a total transaction of $37,301.76. Following the completion of the transaction, the chief executive officer directly owned 188,448 shares in the company, valued at approximately $1,085,460.48. The trade was a 3.32% decrease in their position. The sale 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 Price Performance

CVKD traded down $0.09 during trading on Friday, reaching $4.91. The company had a trading volume of 28,017 shares, compared to its average volume of 54,242. Cadrenal Therapeutics, Inc. has a 12 month low of $4.21 and a 12 month high of $15.99. The business’s fifty day moving average price is $5.35 and its 200 day moving average price is $7.20. The company has a market cap of $14.09 million, a P/E ratio of -0.87 and a beta of 1.81.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly 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. As a group, sell-side analysts predict that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Institutional Trading of Cadrenal Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DRW Securities LLC bought a new stake in Cadrenal Therapeutics during the fourth quarter worth $171,000. Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics during the third quarter worth $274,000. JPMorgan Chase & Co. bought a new stake in Cadrenal Therapeutics during the third quarter worth $103,000. Finally, Geode Capital Management LLC raised its position 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 acquiring an additional 1,818 shares in the last quarter. 7.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on CVKD shares. Wall Street Zen raised shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. Finally, HC Wainwright cut their price objective on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cadrenal Therapeutics presently has an average rating of “Hold” and a consensus price target 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.