Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $32,542.85 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 9,167 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $3.55, for a total value of $32,542.85. Following the sale, the chief executive officer owned 119,422 shares in the company, valued at approximately $423,948.10. The trade was a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Down 2.6%

CVKD traded down $0.08 during trading on Wednesday, hitting $2.98. 140,254 shares of the company’s stock were exchanged, compared to its average volume of 58,505. The business’s 50 day moving average is $4.83 and its two-hundred day moving average is $6.35. The stock has a market cap of $8.55 million, a P/E ratio of -0.53 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a fifty-two week low of $2.55 and a fifty-two week high of $14.64.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CVKD shares. 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. Finally, HC Wainwright decreased their price objective on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.00.

Institutional Trading of Cadrenal Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC acquired a new position in Cadrenal Therapeutics during the 4th quarter valued at about $171,000. Citadel Advisors LLC acquired a new stake in Cadrenal Therapeutics during the 3rd quarter worth about $274,000. JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics in the third quarter worth approximately $103,000. Finally, Geode Capital Management LLC grew its position 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 valued at $98,000 after purchasing an additional 1,818 shares during the last quarter. Institutional investors and hedge funds own 7.92% of the company’s stock.

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.