Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $11,489.34 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,613 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.18, for a total value of $11,489.34. Following the transaction, the chief executive officer owned 129,102 shares of the company’s stock, valued at $410,544.36. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

Shares of CVKD stock opened at $3.50 on Friday. The stock’s fifty day simple moving average is $4.90 and its 200 day simple moving average is $6.44. The firm has a market cap of $10.04 million, a price-to-earnings ratio of -0.62 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a one year low of $3.02 and a one year high of $14.64.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced 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, research analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. HC Wainwright dropped their target price on shares of 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 restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. Finally, 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. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.00.

Hedge Funds Weigh In On Cadrenal Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased 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 in the last quarter. JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics during the 3rd quarter worth about $103,000. DRW Securities LLC bought a new stake in Cadrenal Therapeutics during the 4th quarter worth about $171,000. Finally, Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics during the 3rd quarter worth about $274,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

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.