Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $17,413.44 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,298 shares of Cadrenal Therapeutics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $5.28, for a total transaction of $17,413.44. Following the completion of the transaction, the chief executive officer directly owned 185,150 shares in the company, valued at approximately $977,592. This represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

Shares of NASDAQ CVKD traded down $0.09 during trading hours on Friday, hitting $4.91. 28,017 shares of the stock were exchanged, compared to its average volume of 54,242. The firm has a market capitalization of $14.09 million, a P/E ratio of -0.87 and a beta of 1.81. Cadrenal Therapeutics, Inc. has a one year low of $4.21 and a one year high of $15.99. The company’s 50 day moving average is $5.35 and its 200 day moving average is $7.20.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.47. Research analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cadrenal Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. DRW Securities LLC acquired a new stake in Cadrenal Therapeutics during the fourth quarter worth about $171,000. Citadel Advisors LLC acquired a new stake in shares of Cadrenal Therapeutics during the 3rd quarter worth approximately $274,000. JPMorgan Chase & Co. acquired a new stake in shares of Cadrenal Therapeutics during the 3rd quarter worth approximately $103,000. Finally, Geode Capital Management LLC grew its holdings in shares of Cadrenal Therapeutics by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after purchasing an additional 1,818 shares in the last quarter. 7.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright lowered their price objective on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cadrenal Therapeutics has a consensus rating of “Hold” and an average 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.