Quang Pham Sells 5,893 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 5,893 shares of Cadrenal Therapeutics stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $4.38, for a total value of $25,811.34. Following the completion of the transaction, the chief executive officer owned 167,331 shares of the company’s stock, valued at approximately $732,909.78. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Down 2.7%

Shares of CVKD stock opened at $4.03 on Friday. The business has a 50 day moving average of $5.06 and a two-hundred day moving average of $6.68. Cadrenal Therapeutics, Inc. has a 52 week low of $3.90 and a 52 week high of $15.99. The company has a market cap of $11.57 million, a P/E ratio of -0.72 and a beta of 1.59.

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

Institutional Investors Weigh In On Cadrenal Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DRW Securities LLC bought a new stake in Cadrenal Therapeutics during the fourth quarter worth approximately $171,000. Geode Capital Management LLC raised its holdings in Cadrenal Therapeutics by 14.3% during the fourth 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. JPMorgan Chase & Co. bought a new stake in Cadrenal Therapeutics during the third quarter worth approximately $103,000. Finally, Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics during the third quarter worth approximately $274,000. Institutional investors own 7.92% of the company’s stock.

Analyst Ratings Changes

CVKD has been the subject of a number of research reports. HC Wainwright decreased 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. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cadrenal Therapeutics presently has an average rating of “Hold” and a consensus 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.