Cadrenal Therapeutics (NASDAQ:CVKD) CEO Quang Pham Sells 3,500 Shares

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $4.21, for a total value of $14,735.00. Following the sale, the chief executive officer owned 150,839 shares of the company’s stock, valued at $635,032.19. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Trading Up 4.8%

Shares of NASDAQ CVKD opened at $4.14 on Thursday. Cadrenal Therapeutics, Inc. has a 12-month low of $3.90 and a 12-month high of $15.99. The stock has a market cap of $11.88 million, a PE ratio of -0.74 and a beta of 1.59. The company has a 50-day moving average of $5.08 and a 200 day moving average of $6.73.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.51) by $0.47. On average, sell-side analysts forecast that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Cadrenal Therapeutics

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

Wall Street Analyst Weigh In

Several analysts have issued reports on CVKD shares. HC Wainwright dropped 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 reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen raised shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Cadrenal Therapeutics has an average rating of “Hold” and a consensus 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.