Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells 12,992 Shares of Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 12,992 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $4.06, for a total transaction of $52,747.52. Following the completion of the transaction, the chief executive officer owned 154,339 shares of the company’s stock, valued at $626,616.34. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

Cadrenal Therapeutics stock traded up $0.19 during trading hours on Wednesday, reaching $4.14. The stock had a trading volume of 83,392 shares, compared to its average volume of 62,170. The company has a market cap of $11.88 million, a price-to-earnings ratio of -0.74 and a beta of 1.59. The business’s 50 day moving average price is $5.08 and its 200-day moving average price is $6.73. Cadrenal Therapeutics, Inc. has a 52 week low of $3.90 and a 52 week high of $15.99.

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

Analyst Upgrades and Downgrades

CVKD has been the topic of several recent analyst reports. HC Wainwright cut their price objective on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Wall Street Zen upgraded shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.00.

Hedge Funds Weigh In On Cadrenal Therapeutics

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new position in shares of Cadrenal Therapeutics during the third quarter valued at about $103,000. Citadel Advisors LLC acquired a new position in shares of Cadrenal Therapeutics during the third quarter valued at about $274,000. DRW Securities LLC acquired a new position in shares of Cadrenal Therapeutics during the fourth quarter valued at about $171,000. Finally, Geode Capital Management LLC boosted its position in 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 buying an additional 1,818 shares during the last quarter. Institutional investors and hedge funds own 7.92% of the company’s stock.

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.