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

Cadrenal Therapeutics (NASDAQ:CVKD) announced its quarterly earnings results on Thursday. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate 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, reaching $1.86. 35,859 shares of the company were exchanged, compared to its average volume of 60,672. The firm has a market cap of $6.36 million, a PE ratio of -0.33 and a beta of 1.84. Cadrenal Therapeutics has a fifty-two week low of $1.76 and a fifty-two week high of $14.64. The stock has a fifty day simple moving average of $2.81 and a two-hundred day simple moving average of $4.88.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Friday, July 17th. Wall Street Zen upgraded 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.00.

Insiders Place Their Bets

In other Cadrenal Therapeutics news, CEO Quang X. Pham sold 12,996 shares of the stock in a transaction dated 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 in the company, valued at approximately $537,341.14. This represents a 8.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 87,726 shares of company stock valued at $333,575. 14.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Cadrenal Therapeutics

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 1,818 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Cadrenal Therapeutics in the 3rd quarter valued at approximately $103,000. Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics in the 3rd quarter valued at approximately $274,000. Finally, DRW Securities LLC acquired a new position in Cadrenal Therapeutics during the 4th quarter worth approximately $171,000. 7.92% of the stock is currently owned by institutional investors.

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.