Insider Selling: Cadrenal Therapeutics (NASDAQ:CVKD) CEO Sells $14,735.00 in Stock

by · The Cerbat Gem

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD – Get Free Report) CEO Quang Pham sold 3,500 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $4.21, for a total value of $14,735.00. Following the completion of the sale, the chief executive officer directly owned 150,839 shares of the company’s stock, valued at approximately $635,032.19. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cadrenal Therapeutics Stock Down 8.2%

Shares of Cadrenal Therapeutics stock opened at $3.70 on Friday. The company has a market cap of $10.62 million, a PE ratio of -0.66 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a 52 week low of $3.70 and a 52 week high of $14.69. The business has a 50 day moving average price of $5.04 and a 200-day moving average price of $6.66.

Cadrenal Therapeutics (NASDAQ:CVKD – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) EPS for the quarter, topping the consensus estimate of ($1.51) by $0.47. As a group, research analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current year.

Wall Street Analyst Weigh In

CVKD has been the subject of several analyst reports. HC Wainwright lowered their price objective on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company 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 reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.00.

Read Our Latest Report on CVKD

Institutional Trading of Cadrenal Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CVKD. DRW Securities LLC purchased a new stake in shares of Cadrenal Therapeutics during the fourth quarter valued at approximately $171,000. Citadel Advisors LLC purchased a new stake in shares of Cadrenal Therapeutics during the third quarter valued at approximately $274,000. JPMorgan Chase & Co. purchased a new stake in shares of Cadrenal Therapeutics during the third quarter valued at approximately $103,000. Finally, Geode Capital Management LLC increased its position in shares of Cadrenal Therapeutics by 14.3% during 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 last quarter. 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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