Cadrenal Therapeutics (NASDAQ:CVKD) CEO Quang Pham Sells 6,476 Shares of Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 6,476 shares of Cadrenal Therapeutics stock in a transaction on Monday, May 11th. The stock was sold at an average price of $5.76, for a total transaction of $37,301.76. Following the sale, the chief executive officer directly owned 188,448 shares of the company’s stock, valued at approximately $1,085,460.48. This trade represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Trading Down 0.8%

Cadrenal Therapeutics stock opened at $4.96 on Friday. The stock has a market cap of $14.24 million, a P/E ratio of -0.88 and a beta of 1.81. The company has a fifty day simple moving average of $5.31 and a 200-day simple moving average of $7.18. Cadrenal Therapeutics, Inc. has a 12-month low of $4.21 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) earnings per share (EPS) for the quarter, topping 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 fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVKD shares. 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. Wall Street Zen raised shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVKD. DRW Securities LLC acquired a new position in shares of Cadrenal Therapeutics during the fourth quarter worth about $171,000. Geode Capital Management LLC grew 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 buying an additional 1,818 shares during the period. JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics during the third quarter worth about $103,000. Finally, Citadel Advisors LLC acquired 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.

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.