Cadrenal Therapeutics (NASDAQ:CVKD) CEO Quang Pham Sells 12,996 Shares of Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 12,996 shares of Cadrenal Therapeutics stock in a transaction on Friday, June 12th. The stock was sold at an average price of $3.94, for a total value of $51,204.24. Following the transaction, the chief executive officer directly owned 136,381 shares of the company’s stock, valued at $537,341.14. This trade represents a 8.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cadrenal Therapeutics Trading Down 10.0%

Shares of NASDAQ CVKD opened at $3.33 on Tuesday. The company’s 50-day moving average price is $5.01 and its 200 day moving average price is $6.59. Cadrenal Therapeutics, Inc. has a 52 week low of $3.27 and a 52 week high of $14.64. The stock has a market cap of $9.56 million, a price-to-earnings ratio of -0.59 and a beta of 1.60.

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

Institutional Investors Weigh In On Cadrenal Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. DRW Securities LLC acquired a new position in shares of Cadrenal Therapeutics in the fourth quarter valued at approximately $171,000. Citadel Advisors LLC purchased a new stake in Cadrenal Therapeutics in the 3rd quarter worth approximately $274,000. Geode Capital Management LLC raised its holdings in Cadrenal Therapeutics by 14.3% in the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after acquiring an additional 1,818 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics in the 3rd quarter valued at $103,000. 7.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVKD has been the topic of a number of recent research reports. HC Wainwright reduced their target price on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.