Cadrenal Therapeutics (NASDAQ:CVKD) Announces Earnings Results

Cadrenal Therapeutics (NASDAQ:CVKD) released its earnings results on Thursday. The company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.28, FiscalAI reports.

Cadrenal Therapeutics Price Performance

Shares of Cadrenal Therapeutics stock traded up $0.02 on Thursday, hitting $1.86. 35,859 shares of the company’s stock traded hands, compared to its average volume of 60,672. The firm’s 50-day moving average price is $2.81 and its two-hundred day moving average price is $4.88. The stock has a market capitalization of $6.36 million, a PE ratio of -0.33 and a beta of 1.84. Cadrenal Therapeutics has a one year low of $1.76 and a one year high of $14.64.

Insider Activity

In related news, CEO Quang X. 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 transaction of $51,204.24. Following the completion of the sale, the chief executive officer directly owned 136,381 shares of the company’s stock, valued at $537,341.14. The trade was a 8.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 87,726 shares of company stock valued at $333,575. 14.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cadrenal Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in shares of Cadrenal Therapeutics during the 3rd quarter worth about $103,000. Geode Capital Management LLC raised its position 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 valued at $98,000 after acquiring an additional 1,818 shares during the period. Citadel Advisors LLC bought a new position in Cadrenal Therapeutics during the 3rd quarter worth approximately $274,000. Finally, DRW Securities LLC bought a new position in Cadrenal Therapeutics during the 4th quarter worth approximately $171,000. Institutional investors own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVKD. Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.