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

Cadrenal Therapeutics (NASDAQ:CVKD) posted its quarterly earnings results on Monday. The company reported ($1.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.24, Zacks reports.

Cadrenal Therapeutics Stock Performance

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

Insider Transactions at Cadrenal Therapeutics

In related news, CFO Matthew K. Szot sold 1,800 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $13.99, for a total transaction of $25,182.00. Following the transaction, the chief financial officer owned 9,933 shares of the company’s stock, valued at approximately $138,962.67. The trade was a 15.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $25,470.00. Following the transaction, the chief executive officer directly owned 198,533 shares of the company’s stock, valued at $2,809,241.95. This represents a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,644 shares of company stock valued at $640,540 over the last 90 days. Corporate insiders own 26.09% of the company’s stock.

Institutional Investors Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. JPMorgan Chase & Co. purchased a new position in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,500 shares of the company’s stock, valued at approximately $103,000. JPMorgan Chase & Co. owned approximately 0.37% of Cadrenal Therapeutics as of its most recent SEC filing. 7.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Wednesday, October 8th. One 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 company currently has an average rating of “Hold” and a consensus price target of $32.00.

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.