Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells 9,167 Shares

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 9,167 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $3.55, for a total transaction of $32,542.85. Following the completion of the transaction, the chief executive officer owned 119,422 shares in the company, valued at $423,948.10. This trade represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Performance

Shares of Cadrenal Therapeutics stock traded down $0.08 during trading hours on Wednesday, reaching $2.98. The company’s stock had a trading volume of 140,254 shares, compared to its average volume of 58,505. The company has a market capitalization of $8.55 million, a P/E ratio of -0.53 and a beta of 1.59. The stock’s fifty day simple moving average is $4.83 and its two-hundred day simple moving average is $6.35. Cadrenal Therapeutics, Inc. has a one year low of $2.55 and a one year high of $14.64.

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

Hedge Funds Weigh In On Cadrenal Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CVKD. Geode Capital Management LLC grew 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 buying an additional 1,818 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Cadrenal Therapeutics during the third quarter worth $103,000. Citadel Advisors LLC acquired a new stake in Cadrenal Therapeutics during the third quarter worth approximately $274,000. Finally, DRW Securities LLC bought a new position in Cadrenal Therapeutics in the fourth quarter valued at approximately $171,000. 7.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVKD. Wall Street Zen upgraded Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright reduced 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. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.