Cadrenal Therapeutics (NASDAQ:CVKD) Releases Earnings Results, Beats Estimates By $0.24 EPS

Cadrenal Therapeutics (NASDAQ:CVKD) announced its earnings results on Monday. The company reported ($1.31) EPS for the quarter, topping the consensus estimate of ($1.55) by $0.24, Zacks reports.

Cadrenal Therapeutics Trading Down 2.1%

Shares of CVKD traded down $0.26 on Monday, reaching $11.90. 12,525 shares of the company’s stock were exchanged, compared to its average volume of 31,337. The business has a 50 day moving average price of $13.35 and a two-hundred day moving average price of $13.27. Cadrenal Therapeutics has a 12 month low of $8.74 and a 12 month high of $22.90. The stock has a market capitalization of $24.38 million, a P/E ratio of -1.34 and a beta of 0.96.

Insiders Place Their Bets

In related news, CFO Matthew K. Szot sold 1,800 shares of Cadrenal Therapeutics stock in a transaction on Monday, October 27th. The stock was sold at an average price of $13.99, for a total transaction of $25,182.00. Following the completion of the sale, the chief financial officer directly owned 9,933 shares of the company’s stock, valued at $138,962.67. The trade was a 15.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Quang X. Pham sold 1,800 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $14.15, for a total value of $25,470.00. Following the completion of the sale, the chief executive officer owned 198,533 shares of the company’s stock, valued at $2,809,241.95. This represents a 0.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,644 shares of company stock valued at $640,540 in the last ninety days. Company insiders own 26.09% of the company’s stock.

Hedge Funds Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. JPMorgan Chase & Co. purchased a new stake in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,500 shares of the company’s stock, valued at approximately $103,000. JPMorgan Chase & Co. owned about 0.37% of Cadrenal Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.00.

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.