Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $14,735.77 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 2,989 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.93, for a total value of $14,735.77. Following the completion of the sale, the chief executive officer directly owned 182,161 shares in the company, valued at $898,053.73. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Performance

Cadrenal Therapeutics stock opened at $4.96 on Monday. The business’s fifty day simple moving average is $5.31 and its two-hundred day simple moving average is $7.15. Cadrenal Therapeutics, Inc. has a 12 month low of $4.21 and a 12 month high of $15.99. The company has a market capitalization of $14.24 million, a price-to-earnings ratio of -0.88 and a beta of 1.60.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CVKD shares. HC Wainwright decreased their target price 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.00.

Hedge Funds Weigh In On Cadrenal Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CVKD. Geode Capital Management LLC grew its holdings 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 worth $98,000 after acquiring an additional 1,818 shares during the period. JPMorgan Chase & Co. bought a new position in Cadrenal Therapeutics in the third quarter valued at about $103,000. DRW Securities LLC bought a new position in Cadrenal Therapeutics in the fourth quarter valued at about $171,000. Finally, Citadel Advisors LLC purchased a new position in Cadrenal Therapeutics in the third quarter worth about $274,000. 7.92% of the stock is currently owned by hedge funds and other institutional investors.

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.