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 that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.18, for a total transaction of $11,489.34. Following the completion of the transaction, the chief executive officer directly owned 129,102 shares of the company’s stock, valued at $410,544.36. This represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

NASDAQ:CVKD opened at $3.50 on Friday. Cadrenal Therapeutics, Inc. has a 52 week low of $3.02 and a 52 week high of $14.64. The company has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $6.44. The company has a market cap of $10.04 million, a price-to-earnings ratio of -0.62 and a beta of 1.59.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings data 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. On average, analysts expect that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. HC Wainwright decreased 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. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen raised shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.00.

Institutional Trading of Cadrenal Therapeutics

A number of institutional investors have recently bought and sold shares of CVKD. Geode Capital Management LLC increased its holdings 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 valued at $98,000 after acquiring an additional 1,818 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Cadrenal Therapeutics during the third quarter worth approximately $103,000. DRW Securities LLC acquired a new position in Cadrenal Therapeutics in the fourth quarter valued at approximately $171,000. Finally, Citadel Advisors LLC acquired a new position in Cadrenal Therapeutics in the third quarter valued at approximately $274,000. 7.92% of the stock is 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.