Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $37,301.76 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 6,476 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $5.76, for a total transaction of $37,301.76. Following the sale, the chief executive officer owned 188,448 shares in the company, valued at approximately $1,085,460.48. This trade represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a filing 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

NASDAQ:CVKD opened at $4.96 on Monday. The company has a fifty day simple moving average of $5.31 and a two-hundred day simple moving average of $7.15. The company has a market cap of $14.24 million, a price-to-earnings ratio of -0.88 and a beta of 1.60. Cadrenal Therapeutics, Inc. has a 52 week low of $4.21 and a 52 week high of $15.99.

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, analysts expect that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current year.

Hedge Funds Weigh In On Cadrenal Therapeutics

Institutional investors have recently modified their holdings of the business. DRW Securities LLC acquired a new stake in Cadrenal Therapeutics during the 4th quarter worth $171,000. Citadel Advisors LLC acquired a new position in Cadrenal Therapeutics in the third quarter valued at $274,000. Geode Capital Management LLC increased its stake in 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 purchasing an additional 1,818 shares during the period. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Cadrenal Therapeutics in the third quarter valued at about $103,000. 7.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVKD shares. HC Wainwright lowered their price objective on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.