Quang Pham Sells 12,996 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 12,996 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $3.94, for a total transaction of $51,204.24. Following the sale, the chief executive officer owned 136,381 shares of the company’s stock, valued at $537,341.14. This trade represents a 8.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Cadrenal Therapeutics Stock Performance

Shares of CVKD stock opened at $3.04 on Wednesday. The firm has a market cap of $8.72 million, a price-to-earnings ratio of -0.54 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a 52 week low of $3.02 and a 52 week high of $14.64. The firm’s 50-day simple moving average is $4.98 and its two-hundred day simple moving average is $6.55.

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, topping the consensus estimate of ($1.51) by $0.47. Analysts forecast that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CVKD. JPMorgan Chase & Co. bought a new stake in shares of Cadrenal Therapeutics during the third quarter valued at about $103,000. Citadel Advisors LLC purchased a new position in Cadrenal Therapeutics during the third quarter valued at approximately $274,000. Geode Capital Management LLC increased its holdings in 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 stake in Cadrenal Therapeutics during the 4th quarter worth approximately $171,000. Institutional investors own 7.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen upgraded Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. Finally, HC Wainwright dropped their price objective on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, 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.