Cadrenal Therapeutics (NASDAQ:CVKD) Issues Earnings Results

Cadrenal Therapeutics (NASDAQ:CVKD) released its quarterly earnings data on Thursday. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.28, FiscalAI reports.

Cadrenal Therapeutics Trading Up 1.1%

Shares of NASDAQ:CVKD opened at $1.86 on Friday. The company has a market cap of $6.36 million, a price-to-earnings ratio of -0.33 and a beta of 1.84. Cadrenal Therapeutics has a 12 month low of $1.76 and a 12 month high of $14.64. The company has a 50-day moving average price of $2.76 and a 200 day moving average price of $4.84.

Insiders Place Their Bets

In other Cadrenal Therapeutics news, CEO Quang X. Pham sold 9,029 shares of the company’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 sale, the chief executive officer directly owned 105,989 shares in the company, valued at $323,266.45. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,726 shares of company stock worth $333,575 over the last quarter. Insiders own 14.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. DRW Securities LLC bought a new position in Cadrenal Therapeutics during the 4th quarter valued at about $171,000. Geode Capital Management LLC boosted its position in shares of Cadrenal Therapeutics by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after buying an additional 1,818 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Cadrenal Therapeutics in the third quarter worth approximately $274,000. Finally, JPMorgan Chase & Co. purchased a new position in Cadrenal Therapeutics in the 3rd quarter worth about $103,000. Institutional investors own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Friday, July 17th. Wall Street Zen raised shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.