Cadrenal Therapeutics (NASDAQ:CVKD) CEO Quang Pham Sells 3,666 Shares of Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,666 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $3.58, for a total transaction of $13,124.28. Following the completion of the transaction, the chief executive officer owned 132,715 shares of the company’s stock, valued at $475,119.70. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cadrenal Therapeutics Stock Performance

Shares of NASDAQ:CVKD opened at $3.33 on Tuesday. Cadrenal Therapeutics, Inc. has a 52-week low of $3.27 and a 52-week high of $14.64. The firm has a fifty day moving average of $5.01 and a 200 day moving average of $6.59. The firm has a market capitalization of $9.56 million, a PE ratio of -0.59 and a beta of 1.60.

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. On average, sell-side analysts forecast that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Institutional Trading of Cadrenal Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in Cadrenal Therapeutics during the third quarter valued at about $103,000. Geode Capital Management LLC boosted its position in Cadrenal Therapeutics by 14.3% during 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 during the period. Citadel Advisors LLC purchased a new stake in Cadrenal Therapeutics during the third quarter valued at about $274,000. Finally, DRW Securities LLC purchased a new stake in Cadrenal Therapeutics during the fourth quarter valued at about $171,000. 7.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVKD has been the subject of several research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. HC Wainwright cut 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 report on Tuesday, April 7th. Finally, Wall Street Zen upgraded shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently 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.