Quang Pham Sells 7,400 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 7,400 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $3.03, for a total value of $22,422.00. Following the completion of the sale, the chief executive officer owned 98,589 shares of the company’s stock, valued at $298,724.67. This trade represents a 6.98% 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

Shares of Cadrenal Therapeutics stock opened at $3.60 on Friday. Cadrenal Therapeutics, Inc. has a 12-month low of $2.55 and a 12-month high of $14.64. The company has a market capitalization of $10.33 million, a price-to-earnings ratio of -0.64 and a beta of 1.73. The firm’s 50-day moving average price is $4.52 and its two-hundred day moving average price is $5.96.

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

Hedge Funds Weigh In On Cadrenal Therapeutics

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Cadrenal Therapeutics by 14.3% in the fourth 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. bought a new position in shares of Cadrenal Therapeutics during the 3rd quarter worth $103,000. Citadel Advisors LLC purchased a new stake in Cadrenal Therapeutics in the 3rd quarter worth about $274,000. Finally, DRW Securities LLC purchased a new stake in Cadrenal Therapeutics in the 4th quarter worth about $171,000. 7.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVKD has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. HC Wainwright lowered their target price on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Wall Street Zen raised shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.