Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells 7,400 Shares

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 7,400 shares of Cadrenal Therapeutics stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $3.03, for a total value of $22,422.00. Following the completion of the transaction, the chief executive officer owned 98,589 shares in the company, valued at $298,724.67. This trade represents a 6.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Down 5.1%

Shares of Cadrenal Therapeutics stock opened at $3.17 on Thursday. The company has a market cap of $9.10 million, a P/E ratio of -0.56 and a beta of 1.73. The firm’s 50 day moving average price is $4.60 and its 200-day moving average price is $6.03. Cadrenal Therapeutics, Inc. has a 52-week low of $2.55 and a 52-week 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 for the quarter, beating the consensus estimate of ($1.51) by $0.47. As a group, equities research analysts forecast that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Cadrenal Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVKD. JPMorgan Chase & Co. bought a new stake in shares of Cadrenal Therapeutics during the 3rd quarter worth $103,000. Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics during the third quarter valued at about $274,000. Geode Capital Management LLC grew its position in shares of Cadrenal Therapeutics by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after purchasing an additional 1,818 shares during the last quarter. Finally, DRW Securities LLC bought a new position in shares of Cadrenal Therapeutics in the fourth quarter worth about $171,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVKD. HC Wainwright reduced their price target on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report 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 issued a Sell rating to the company’s stock. According to MarketBeat, Cadrenal Therapeutics has an average rating of “Hold” and an average price target 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.