Quang Pham Sells 3,500 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $4.21, for a total value of $14,735.00. Following the transaction, the chief executive officer owned 150,839 shares of the company’s stock, valued at approximately $635,032.19. The trade was a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Down 2.7%

CVKD opened at $4.03 on Friday. The business has a fifty day moving average of $5.06 and a 200 day moving average of $6.68. Cadrenal Therapeutics, Inc. has a 52-week low of $3.90 and a 52-week high of $15.99. The stock has a market cap of $11.57 million, a P/E ratio of -0.72 and a beta of 1.59.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.47. Equities analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. HC Wainwright lowered their target price on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a report 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 analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.00.

Institutional Investors Weigh In On Cadrenal Therapeutics

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Cadrenal Therapeutics by 14.3% in 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 in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics in the 3rd quarter worth $103,000. DRW Securities LLC bought a new position in shares of Cadrenal Therapeutics in the 4th quarter worth $171,000. Finally, Citadel Advisors LLC bought a new position in shares of Cadrenal Therapeutics in the 3rd quarter worth $274,000. 7.92% of the stock is currently owned by hedge funds and other institutional investors.

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.