Key Points
- Cadrenal Therapeutics CEO Quang Pham sold 12,992 shares on June 9 at an average price of $4.06, for proceeds of about $52,748. The sale reduced his stake by 7.76% and was made under a pre-arranged Rule 10b5-1 trading plan.
- The stock rose 4.8% and opened at $4.14, but it remains well below its recent averages, with a 50-day moving average of $5.08 and a 200-day moving average of $6.73. The company has a market cap of $11.88 million and shares have traded between $3.90 and $15.99 over the past year.
- Cadrenal recently reported a smaller-than-expected quarterly loss of $1.04 per share, beating analysts’ estimate of a $1.51 loss. Wall Street’s consensus rating is Hold, with an average target price of $13.00.
Cadrenal Therapeutics, Inc. (NASDAQ:CVKD - Get Free Report) CEO Quang Pham sold 3,500 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $4.21, for a total transaction 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 $635,032.19. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cadrenal Therapeutics Price Performance
Cadrenal Therapeutics stock opened at $4.14 on Thursday. The stock has a market capitalization of $11.88 million, a PE 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 business has a 50 day simple moving average of $5.08 and a 200-day simple moving average of $6.73.
Cadrenal Therapeutics (NASDAQ:CVKD - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $0.47. As a group, equities research analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms have issued reports on CVKD. Weiss Ratings reiterated a "sell (e+)" rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. Wall Street Zen upgraded Cadrenal Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, HC Wainwright cut their price objective on Cadrenal Therapeutics from $32.00 to $13.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $13.00.
Get Our Latest Stock Analysis on CVKD
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its position in Cadrenal Therapeutics by 14.3% during the 4th 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. purchased a new stake in Cadrenal Therapeutics during the 3rd quarter worth about $103,000. DRW Securities LLC purchased a new stake in Cadrenal Therapeutics during the 4th quarter worth about $171,000. Finally, Citadel Advisors LLC purchased a new stake in Cadrenal Therapeutics in the 3rd quarter worth approximately $274,000. 7.92% of the stock is owned by hedge funds and other institutional investors.
Cadrenal Therapeutics Company Profile
(
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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