Quang Pham Sells 3,666 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,666 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $3.58, for a total transaction of $13,124.28. Following the completion of the sale, the chief executive officer owned 132,715 shares in the company, valued at approximately $475,119.70. The trade was a 2.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cadrenal Therapeutics Stock Down 8.7%

Shares of CVKD stock opened at $3.04 on Wednesday. The stock has a market cap of $8.72 million, a P/E ratio of -0.54 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a 52 week low of $3.02 and a 52 week high of $14.64. The company’s fifty day simple moving average is $4.98 and its two-hundred day simple moving average is $6.55.

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

Hedge Funds Weigh In On Cadrenal Therapeutics

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics during the 3rd quarter valued at approximately $103,000. Geode Capital Management LLC increased its position in shares of Cadrenal Therapeutics by 14.3% during the 4th 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 last quarter. Citadel Advisors LLC bought a new position in Cadrenal Therapeutics during the 3rd quarter valued at about $274,000. Finally, DRW Securities LLC purchased a new stake in Cadrenal Therapeutics in the 4th quarter worth about $171,000. Institutional investors own 7.92% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CVKD shares. HC Wainwright reduced their target price 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. Wall Street Zen upgraded shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cadrenal Therapeutics presently has an average rating of “Hold” and an average price target 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.