Key Points
- Cadrenal Therapeutics CEO Quang Pham sold 3,613 shares on June 16 at an average price of $3.18, totaling about $11,489. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Pham directly owned 129,102 shares valued at roughly $410,544, representing a 2.72% decrease in his position.
- The company recently reported a smaller-than-expected quarterly loss of $1.04 per share versus the consensus estimate of $1.51 loss, while analysts currently have an average Hold rating and a $13.00 price target.
Cadrenal Therapeutics, Inc. (NASDAQ:CVKD - Get Free Report) CEO Quang Pham sold 3,613 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.18, for a total transaction of $11,489.34. Following the transaction, the chief executive officer directly owned 129,102 shares in the company, valued at $410,544.36. The trade was a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cadrenal Therapeutics Stock Performance
NASDAQ:CVKD opened at $3.50 on Friday. The company has a market capitalization of $10.04 million, a price-to-earnings ratio of -0.62 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a one year low of $3.02 and a one year high of $14.64. The stock has a 50-day simple moving average of $4.93 and a 200 day simple moving average of $6.46.
Cadrenal Therapeutics (NASDAQ:CVKD - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $0.47. On average, equities research analysts forecast that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.
Hedge Funds Weigh In On Cadrenal Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the company. DRW Securities LLC bought a new position in Cadrenal Therapeutics in the 4th quarter worth approximately $171,000. Citadel Advisors LLC acquired a new position in Cadrenal Therapeutics during the 3rd quarter worth $274,000. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics in the third quarter worth $103,000. Finally, Geode Capital Management LLC grew its stake in shares of Cadrenal Therapeutics by 14.3% in the fourth 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. Institutional investors and hedge funds own 7.92% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. HC Wainwright reduced their price objective on Cadrenal Therapeutics from $32.00 to $13.00 and set a "buy" rating on the stock 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 report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Cadrenal Therapeutics presently has an average rating of "Hold" and an average price target of $13.00.
Check Out Our Latest Research Report on CVKD
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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