Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells 3,898 Shares of Stock

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) CEO Quang Pham sold 3,898 shares of Cadrenal Therapeutics stock in a transaction on 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 directly owned 175,288 shares of the company’s stock, valued at $773,020.08. This trade represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Performance

Shares of Cadrenal Therapeutics stock traded up $0.13 during midday trading on Friday, reaching $4.44. 58,936 shares of the company’s stock traded hands, compared to its average volume of 55,464. The company has a market cap of $12.74 million, a price-to-earnings ratio of -0.79 and a beta of 1.59. The company’s 50 day simple moving average is $5.15 and its 200 day simple moving average is $6.93. Cadrenal Therapeutics, Inc. has a 52 week low of $4.14 and a 52 week high of $15.99.

Cadrenal Therapeutics (NASDAQ:CVKD) last released 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, equities research analysts predict that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CVKD shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. Wall Street Zen upgraded shares of Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, HC Wainwright dropped their target price on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cadrenal Therapeutics currently has an average rating of “Hold” and a consensus target price of $13.00.

Institutional Trading of Cadrenal Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CVKD. Geode Capital Management LLC increased 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 buying an additional 1,818 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics during the third quarter valued at approximately $103,000. DRW Securities LLC bought a new position in shares of Cadrenal Therapeutics during the fourth quarter valued at approximately $171,000. Finally, Citadel Advisors LLC bought a new position in shares of Cadrenal Therapeutics during the third quarter valued at approximately $274,000. 7.92% of the stock is owned by institutional investors.

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.