Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $27,538.45 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 9,029 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $3.05, for a total transaction of $27,538.45. Following the completion of the transaction, the chief executive officer owned 105,989 shares of the company’s stock, valued at $323,266.45. This represents a 7.85% decrease in their position. The sale was disclosed in a filing 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 Stock Performance

Cadrenal Therapeutics stock opened at $3.05 on Monday. 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 $8.75 million, a price-to-earnings ratio of -0.54 and a beta of 1.60. The company’s 50-day moving average price is $4.72 and its two-hundred day moving average price is $6.19.

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, topping analysts’ consensus estimates of ($1.51) by $0.47. Research analysts expect that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cadrenal Therapeutics

A number of large investors have recently bought and sold shares of the business. Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics during the third quarter valued at about $274,000. DRW Securities LLC acquired a new stake in shares of Cadrenal Therapeutics in the fourth quarter valued at about $171,000. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics in the third quarter worth about $103,000. Finally, 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 worth $98,000 after purchasing an additional 1,818 shares during the period. 7.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVKD has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. HC Wainwright reduced their price target 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. 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 investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.