Cadrenal Therapeutics (NASDAQ:CVKD) CEO Quang Pham Sells 12,992 Shares of Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 12,992 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $4.06, for a total value of $52,747.52. Following the sale, the chief executive officer owned 154,339 shares in the company, valued at approximately $626,616.34. The trade was a 7.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

CVKD stock opened at $4.14 on Thursday. The firm’s fifty day simple moving average is $5.08 and its 200-day simple moving average is $6.73. The company has a market capitalization of $11.88 million, a P/E ratio of -0.74 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a 12 month low of $3.90 and a 12 month high of $15.99.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Cadrenal Therapeutics

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its position in Cadrenal Therapeutics by 14.3% during 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 last quarter. JPMorgan Chase & Co. purchased a new position in Cadrenal Therapeutics during the third quarter worth about $103,000. DRW Securities LLC purchased a new position in Cadrenal Therapeutics during the fourth quarter worth about $171,000. Finally, Citadel Advisors LLC purchased a new position in Cadrenal Therapeutics during the third quarter worth about $274,000. 7.92% of the stock is currently owned by institutional investors and hedge funds.

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.