Quang Pham Sells 3,613 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,613 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.18, for a total transaction of $11,489.34. Following the completion of the sale, the chief executive officer directly owned 129,102 shares of the company’s stock, valued at approximately $410,544.36. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Performance

Cadrenal Therapeutics stock traded up $0.40 during midday trading on Thursday, hitting $3.50. 115,240 shares of the company’s stock were exchanged, compared to its average volume of 57,785. Cadrenal Therapeutics, Inc. has a 12 month low of $3.02 and a 12 month high of $14.64. The firm has a 50-day moving average of $4.95 and a two-hundred day moving average of $6.50. The company has a market cap of $10.04 million, a PE ratio of -0.62 and a beta of 1.59.

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

Institutional Trading of Cadrenal Therapeutics

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake 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 acquiring an additional 1,818 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Cadrenal Therapeutics in the third quarter valued at approximately $103,000. DRW Securities LLC acquired a new stake in Cadrenal Therapeutics in the fourth quarter valued at approximately $171,000. Finally, Citadel Advisors LLC purchased a new position in Cadrenal Therapeutics in the third quarter worth $274,000. 7.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. 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 report on Tuesday, April 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. Finally, Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.