Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $22,422.00 in Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 7,400 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $3.03, for a total transaction of $22,422.00. Following the completion of the transaction, the chief executive officer owned 98,589 shares in the company, valued at $298,724.67. This represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Price Performance

Shares of CVKD opened at $3.60 on Friday. Cadrenal Therapeutics, Inc. has a 1-year low of $2.55 and a 1-year high of $14.64. The stock has a market cap of $10.33 million, a PE ratio of -0.64 and a beta of 1.73. The firm has a fifty day moving average price of $4.52 and a 200 day moving average price of $5.96.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its quarterly 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, equities analysts expect that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 1,818 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Cadrenal Therapeutics during the 3rd quarter worth $103,000. DRW Securities LLC purchased a new position in shares of Cadrenal Therapeutics in the 4th quarter valued at about $171,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Cadrenal Therapeutics in the third quarter valued at about $274,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CVKD shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. 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 note on Tuesday, April 7th. 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 investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus 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.