Quang Pham Sells 12,992 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 12,992 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $4.06, for a total value of $52,747.52. Following the completion of the transaction, the chief executive officer directly owned 154,339 shares of the company’s stock, valued at $626,616.34. The trade was a 7.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Trading Down 2.7%

Shares of Cadrenal Therapeutics stock opened at $4.03 on Friday. The firm has a market capitalization of $11.57 million, a PE ratio of -0.72 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a twelve month low of $3.90 and a twelve month high of $15.99. The firm’s 50-day moving average price is $5.06 and its 200 day moving average price is $6.68.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in Cadrenal Therapeutics by 14.3% in the 4th 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. purchased a new position in Cadrenal Therapeutics in the 3rd quarter worth approximately $103,000. DRW Securities LLC purchased a new position in Cadrenal Therapeutics in the 4th quarter worth approximately $171,000. Finally, Citadel Advisors LLC purchased a new position in Cadrenal Therapeutics in the 3rd quarter worth approximately $274,000. 7.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. 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. Finally, HC Wainwright decreased their price target on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cadrenal Therapeutics currently 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.