Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $25,811.34 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 5,893 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $4.38, for a total value of $25,811.34. Following the sale, the chief executive officer owned 167,331 shares of the company’s stock, valued at $732,909.78. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Trading Up 4.8%

NASDAQ:CVKD traded up $0.19 on Wednesday, hitting $4.14. 83,392 shares of the stock were exchanged, compared to its average volume of 62,170. The stock has a market cap of $11.88 million, a PE ratio of -0.74 and a beta of 1.59. The stock has a fifty day moving average of $5.08 and a 200-day moving average of $6.73. Cadrenal Therapeutics, Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $15.99.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.04) EPS for the quarter, topping the consensus estimate of ($1.51) by $0.47. As a group, analysts predict that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current year.

Institutional Investors Weigh In On Cadrenal Therapeutics

A number of large investors have recently modified their holdings of CVKD. DRW Securities LLC acquired a new stake in shares of Cadrenal Therapeutics in the fourth quarter valued at about $171,000. Citadel Advisors LLC acquired a new stake in shares of Cadrenal Therapeutics in the third quarter valued at about $274,000. JPMorgan Chase & Co. acquired a new stake in shares of Cadrenal Therapeutics in the third quarter valued at about $103,000. Finally, Geode Capital Management LLC grew its stake 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 buying an additional 1,818 shares in the last quarter. Institutional investors and hedge funds own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVKD. Wall Street Zen upgraded Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. 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 research note on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cadrenal Therapeutics currently has an average rating of “Hold” and a consensus price target 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.