Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells 9,029 Shares

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

Cadrenal Therapeutics Stock Performance

NASDAQ CVKD traded up $0.19 during midday trading on Friday, hitting $3.05. The company had a trading volume of 51,501 shares, compared to its average volume of 74,882. The firm has a fifty day simple moving average of $4.76 and a two-hundred day simple moving average of $6.24. Cadrenal Therapeutics, Inc. has a fifty-two week low of $2.55 and a fifty-two week high of $14.64.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVKD shares. HC Wainwright reduced their target price on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. Finally, Wall Street Zen raised shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics during the third quarter valued at $103,000. Geode Capital Management LLC grew its holdings in shares of Cadrenal Therapeutics by 14.3% in the 4th 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 last quarter. Citadel Advisors LLC bought a new stake in shares of Cadrenal Therapeutics in the 3rd quarter worth about $274,000. Finally, DRW Securities LLC acquired a new stake in shares of Cadrenal Therapeutics during the 4th quarter worth about $171,000. 7.92% of the stock is currently owned by institutional investors and hedge funds.

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.