Quang Pham Sells 9,029 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 9,029 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $3.05, for a total value of $27,538.45. Following the transaction, the chief executive officer directly owned 105,989 shares of the company’s stock, valued at approximately $323,266.45. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Trading Up 6.6%

Shares of CVKD opened at $3.05 on Friday. The stock’s 50-day moving average price is $4.72 and its two-hundred day moving average price is $6.22. Cadrenal Therapeutics, Inc. has a 12 month low of $2.55 and a 12 month high of $14.64. The company has a market capitalization of $8.75 million, a PE ratio of -0.54 and a beta of 1.59.

Cadrenal Therapeutics (NASDAQ:CVKD) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($1.04) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $0.47. Equities research analysts predict that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake 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 purchasing an additional 1,818 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Cadrenal Therapeutics in the 3rd quarter valued at about $103,000. Citadel Advisors LLC acquired a new stake in shares of Cadrenal Therapeutics in the 3rd quarter valued at about $274,000. Finally, DRW Securities LLC bought a new stake in Cadrenal Therapeutics in the 4th quarter valued at about $171,000. 7.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. HC Wainwright dropped their price target on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research 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 equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average 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.