Cadrenal Therapeutics (NASDAQ:CVKD) CEO Quang Pham Sells 9,029 Shares

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 9,029 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was 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 in the company, valued at $323,266.45. This represents a 7.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Trading Up 6.6%

Shares of NASDAQ CVKD opened at $3.05 on Friday. Cadrenal Therapeutics, Inc. has a 12 month low of $2.55 and a 12 month high of $14.64. The firm has a fifty day simple moving average of $4.72 and a two-hundred day simple moving average of $6.22. The firm has a market capitalization of $8.75 million, a PE ratio of -0.54 and a beta of 1.59.

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, sell-side analysts predict that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current year.

Institutional Investors Weigh In On Cadrenal Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Cadrenal Therapeutics by 14.3% during the 4th 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. JPMorgan Chase & Co. acquired a new stake in shares of Cadrenal Therapeutics in the 3rd quarter valued at approximately $103,000. DRW Securities LLC purchased a new stake in shares of Cadrenal Therapeutics in the fourth quarter valued at approximately $171,000. Finally, Citadel Advisors LLC acquired a new position in Cadrenal Therapeutics during the third quarter worth $274,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CVKD shares. HC Wainwright dropped their target price on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cadrenal Therapeutics presently 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.