Quang Pham Sells 12,992 Shares of Cadrenal Therapeutics (NASDAQ:CVKD) Stock

by · The Markets Daily

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD – Get Free Report) CEO Quang Pham sold 12,992 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $4.06, for a total transaction of $52,747.52. Following the sale, the chief executive officer directly owned 154,339 shares of the company’s stock, valued at $626,616.34. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Trading Up 4.8%

Shares of CVKD traded up $0.19 during trading hours on Wednesday, reaching $4.14. 83,392 shares of the company traded hands, compared to its average volume of 62,170. The firm has a market cap of $11.88 million, a price-to-earnings ratio of -0.74 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a 12-month low of $3.90 and a 12-month high of $15.99. The stock’s fifty day moving average price is $5.08 and its 200 day moving average price is $6.73.

Cadrenal Therapeutics (NASDAQ:CVKD – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $0.47. On average, research analysts forecast that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. HC Wainwright lowered their price objective on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company 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 research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Read Our Latest Stock Analysis on Cadrenal Therapeutics

Institutional Trading of Cadrenal Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised 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 worth $98,000 after purchasing an additional 1,818 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Cadrenal Therapeutics in the third quarter worth about $103,000. DRW Securities LLC bought a new position in Cadrenal Therapeutics in the fourth quarter worth about $171,000. Finally, Citadel Advisors LLC bought a new position in Cadrenal Therapeutics in the third quarter worth about $274,000. 7.92% of the stock is owned by hedge funds and other institutional investors.

About Cadrenal Therapeutics

(Get Free Report)

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.

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