Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $51,204.24 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 12,996 shares of Cadrenal Therapeutics stock in a transaction on Friday, June 12th. The shares were sold at an average price of $3.94, for a total transaction of $51,204.24. Following the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cadrenal Therapeutics Stock Down 10.0%

Shares of NASDAQ:CVKD traded down $0.37 during trading on Monday, reaching $3.33. 67,393 shares of the company traded hands, compared to its average volume of 66,405. The firm has a fifty day simple moving average of $5.01 and a 200 day simple moving average of $6.59. The firm has a market cap of $9.56 million, a P/E ratio of -0.59 and a beta of 1.60. Cadrenal Therapeutics, Inc. has a 1-year low of $3.27 and a 1-year high of $14.64.

Cadrenal Therapeutics (NASDAQ:CVKD) last issued its earnings results 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. As a group, research analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVKD. HC Wainwright decreased their target price on shares of 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 shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.00.

Institutional Inflows and Outflows

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

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.