Quang Pham Sells 7,400 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 7,400 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $3.03, for a total transaction of $22,422.00. Following the completion of the sale, the chief executive officer owned 98,589 shares in the company, valued at approximately $298,724.67. The trade was a 6.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

Shares of Cadrenal Therapeutics stock opened at $3.17 on Thursday. Cadrenal Therapeutics, Inc. has a fifty-two week low of $2.55 and a fifty-two week high of $14.64. The firm has a fifty day moving average price of $4.60 and a two-hundred day moving average price of $6.03. The company has a market cap of $9.10 million, a PE ratio of -0.56 and a beta of 1.73.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted 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. Analysts expect that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright lowered 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. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.00.

Hedge Funds Weigh In On Cadrenal Therapeutics

A number of large investors have recently modified their holdings of CVKD. DRW Securities LLC bought a new stake in shares of Cadrenal Therapeutics during the fourth quarter valued at approximately $171,000. Geode Capital Management LLC raised its position in Cadrenal Therapeutics by 14.3% in 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 last quarter. JPMorgan Chase & Co. bought a new position in Cadrenal Therapeutics in the 3rd quarter worth approximately $103,000. Finally, Citadel Advisors LLC acquired a new position in Cadrenal Therapeutics during the 3rd quarter worth $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.