Quang Pham Sells 3,666 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,666 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $3.58, for a total value of $13,124.28. Following the transaction, the chief executive officer directly owned 132,715 shares in the company, valued at approximately $475,119.70. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cadrenal Therapeutics Stock Down 10.0%

CVKD traded down $0.37 during midday trading on Monday, reaching $3.33. The company had a trading volume of 67,393 shares, compared to its average volume of 66,405. Cadrenal Therapeutics, Inc. has a 1 year low of $3.27 and a 1 year high of $14.64. The business has a 50-day moving average of $5.01 and a two-hundred day moving average of $6.59. The company has a market cap of $9.56 million, a P/E ratio of -0.59 and a beta of 1.60.

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

Hedge Funds Weigh In On Cadrenal Therapeutics

Several large investors have recently bought and sold shares of CVKD. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 1,818 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Cadrenal Therapeutics in the third quarter valued at about $103,000. DRW Securities LLC acquired a new stake in Cadrenal Therapeutics in the fourth quarter valued at about $171,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Cadrenal Therapeutics during the 3rd quarter valued at approximately $274,000. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CVKD. HC Wainwright cut their price objective on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a research note 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 investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cadrenal Therapeutics presently has a consensus rating of “Hold” and an average price target of $13.00.

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.