Cadrenal Therapeutics (NASDAQ:CVKD) Releases Earnings Results, Beats Estimates By $0.28 EPS

Cadrenal Therapeutics (NASDAQ:CVKD) posted its quarterly earnings data on Thursday. The company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.28, FiscalAI reports.

Cadrenal Therapeutics Stock Up 1.1%

Shares of NASDAQ:CVKD traded up $0.02 during midday trading on Thursday, hitting $1.86. 35,859 shares of the stock traded hands, compared to its average volume of 60,678. The business’s 50 day moving average is $2.76 and its two-hundred day moving average is $4.84. The stock has a market capitalization of $6.36 million, a PE ratio of -0.33 and a beta of 1.84. Cadrenal Therapeutics has a one year low of $1.76 and a one year high of $14.64.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Friday, July 17th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.00.

Insider Transactions at Cadrenal Therapeutics

In other Cadrenal Therapeutics news, CEO Quang X. Pham sold 12,996 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $3.94, for a total transaction of $51,204.24. Following the completion of the transaction, the chief executive officer owned 136,381 shares of the company’s stock, valued at $537,341.14. This represents a 8.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 87,726 shares of company stock worth $333,575. 14.59% of the stock is owned by insiders.

Institutional Trading of Cadrenal Therapeutics

Several large investors have recently added to or reduced their stakes in CVKD. DRW Securities LLC purchased a new stake in shares of Cadrenal Therapeutics in the 4th quarter worth about $171,000. Citadel Advisors LLC purchased a new position in shares of Cadrenal Therapeutics during the third quarter valued at about $274,000. Geode Capital Management LLC raised its stake in Cadrenal Therapeutics by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after buying an additional 1,818 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in Cadrenal Therapeutics in the third quarter worth about $103,000. Institutional investors own 7.92% of the company’s stock.

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.