Quang Pham Sells 3,898 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,898 shares of Cadrenal Therapeutics stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $4.41, for a total transaction of $17,190.18. Following the sale, the chief executive officer owned 175,288 shares of the company’s stock, valued at approximately $773,020.08. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

Shares of CVKD opened at $4.44 on Friday. Cadrenal Therapeutics, Inc. has a 1-year low of $4.14 and a 1-year high of $15.99. The stock has a market cap of $12.74 million, a PE ratio of -0.79 and a beta of 1.59. The firm has a 50-day simple moving average of $5.13 and a two-hundred day simple moving average of $6.92.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in shares of Cadrenal Therapeutics in the third quarter valued at approximately $103,000. Geode Capital Management LLC boosted 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 valued at $98,000 after purchasing an additional 1,818 shares during the period. Citadel Advisors LLC purchased a new position in shares of Cadrenal Therapeutics in the third quarter valued at approximately $274,000. Finally, DRW Securities LLC purchased a new position in shares of Cadrenal Therapeutics in the fourth quarter valued at approximately $171,000. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Analysts Set New Price Targets

CVKD has been the subject of a number of recent analyst reports. 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. HC Wainwright dropped their price target on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.00.

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. Cadrenal Therapeutics, Inc was incorporated in 2022 and is headquartered in Ponte Vedra, Florida.