Quang Pham Sells 9,167 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 9,167 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $3.55, for a total transaction of $32,542.85. Following the completion of the transaction, the chief executive officer owned 119,422 shares of the company’s stock, valued at $423,948.10. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Down 4.0%

CVKD opened at $2.86 on Friday. The business’s fifty day simple moving average is $4.76 and its 200 day simple moving average is $6.24. Cadrenal Therapeutics, Inc. has a 52 week low of $2.55 and a 52 week high of $14.64. The stock has a market cap of $8.21 million, a PE ratio of -0.51 and a beta of 1.59.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in Cadrenal Therapeutics by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after acquiring an additional 1,818 shares during the period. JPMorgan Chase & Co. bought a new position in Cadrenal Therapeutics during 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. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. 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 lowered their price objective 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. One equities research 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 company has a consensus rating of “Hold” and a consensus price target of $13.00.

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.