Quang Pham Sells 3,613 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,613 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $3.18, for a total value of $11,489.34. Following the completion of the sale, the chief executive officer directly owned 129,102 shares of the company’s stock, valued at $410,544.36. The trade was a 2.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Performance

CVKD stock traded up $0.40 on Thursday, hitting $3.50. 115,240 shares of the company’s stock were exchanged, compared to its average volume of 57,785. Cadrenal Therapeutics, Inc. has a 12-month low of $3.02 and a 12-month high of $14.64. The firm has a 50 day moving average price of $4.95 and a two-hundred day moving average price of $6.50. The stock has a market cap of $10.04 million, a P/E ratio of -0.62 and a beta of 1.59.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its earnings results on Thursday, May 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.51) by $0.47. Sell-side analysts expect that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cadrenal Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CVKD. JPMorgan Chase & Co. purchased a new stake in Cadrenal Therapeutics in the third quarter valued at approximately $103,000. Citadel Advisors LLC purchased a new position in Cadrenal Therapeutics during the 3rd quarter worth approximately $274,000. Geode Capital Management LLC raised its position 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 buying an additional 1,818 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in Cadrenal Therapeutics during the 4th quarter valued at approximately $171,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

CVKD has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. HC Wainwright dropped their target price 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. Finally, 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. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cadrenal Therapeutics has a consensus rating of “Hold” and an average target price 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.