Key Points
- CEO Quang Pham sold 12,996 shares of Cadrenal Therapeutics at an average price of $3.94, bringing in about $51,204 and reducing his ownership by 8.7%.
- CVKD shares fell 10% and were trading around $3.33, near their 12-month low of $3.27 and well below the 50-day and 200-day moving averages.
- The company recently reported a quarterly loss of $1.04 per share, though that was better than analyst expectations; Wall Street’s average rating remains Hold with a $13.00 price target.
Cadrenal Therapeutics, Inc. (NASDAQ:CVKD - Get Free Report) CEO Quang Pham sold 3,666 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.58, for a total transaction of $13,124.28. Following the sale, the chief executive officer owned 132,715 shares of the company's stock, valued at approximately $475,119.70. The trade was a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Cadrenal Therapeutics Stock Down 10.0%
NASDAQ CVKD opened at $3.33 on Tuesday. The company has a 50-day simple moving average of $5.01 and a two-hundred day simple moving average of $6.59. Cadrenal Therapeutics, Inc. has a 12-month low of $3.27 and a 12-month high of $14.64. The firm has a market cap of $9.56 million, a price-to-earnings ratio of -0.59 and a beta of 1.60.
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, beating the consensus estimate of ($1.51) by $0.47. Equities analysts expect that Cadrenal Therapeutics, Inc. will post -5.52 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cadrenal Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake 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. JPMorgan Chase & Co. bought a new position in Cadrenal Therapeutics in the third quarter worth about $103,000. Citadel Advisors LLC bought a new position in Cadrenal Therapeutics in the third quarter worth about $274,000. Finally, DRW Securities LLC bought a new position in Cadrenal Therapeutics in the fourth quarter worth about $171,000. 7.92% of the stock is owned by institutional investors.
Analysts Set New Price Targets
CVKD has been the subject of several recent analyst reports. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.00.
Check Out Our Latest Research Report on CVKD
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
