Cadrenal Therapeutics (NASDAQ:CVKD) CEO Quang Pham Sells 3,500 Shares

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $4.21, for a total value of $14,735.00. Following the sale, the chief executive officer directly owned 150,839 shares of the company’s stock, valued at $635,032.19. The trade was a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Trading Up 4.8%

Cadrenal Therapeutics stock traded up $0.19 during trading hours on Wednesday, reaching $4.14. 83,392 shares of the company were exchanged, compared to its average volume of 62,170. The firm has a market cap of $11.88 million, a price-to-earnings ratio of -0.74 and a beta of 1.59. The stock has a 50-day moving average of $5.08 and a 200 day moving average of $6.73. Cadrenal Therapeutics, Inc. has a 12 month low of $3.90 and a 12 month high of $15.99.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVKD shares. Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright dropped their price objective on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. 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, Cadrenal Therapeutics has an average rating of “Hold” and an average price target of $13.00.

Hedge Funds Weigh In On Cadrenal Therapeutics

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake 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 worth $98,000 after purchasing an additional 1,818 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics in the third quarter worth about $103,000. DRW Securities LLC bought a new position in shares of Cadrenal Therapeutics in the fourth quarter worth about $171,000. Finally, Citadel Advisors LLC bought a new position in shares of Cadrenal Therapeutics in the third quarter worth about $274,000. 7.92% of the stock is currently owned by institutional investors.

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.