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 sale, the chief executive officer owned 167,331 shares in the company, valued at $732,909.78. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Performance

NASDAQ CVKD traded up $0.19 during trading hours on Wednesday, hitting $4.14. 83,392 shares of the company’s stock were exchanged, compared to its average volume of 62,170. The business’s 50 day moving average is $5.08 and its 200-day moving average is $6.73. Cadrenal Therapeutics, Inc. has a 12-month low of $3.90 and a 12-month high of $15.99. The firm has a market capitalization of $11.88 million, a P/E ratio of -0.74 and a beta of 1.59.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its earnings results on Thursday, May 7th. The company reported ($1.04) earnings per share for the quarter, topping the consensus estimate of ($1.51) by $0.47. As a group, equities research analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVKD. HC Wainwright reduced their target price on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.00.

Institutional Investors Weigh In On Cadrenal Therapeutics

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

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.