Key Points
- CEO Quang Pham sold 9,167 shares of Cadrenal Therapeutics on June 22 at an average price of $3.55, totaling about $32,543. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 7.13%.
- CVKD stock was down 2.6% and opened at $2.98, leaving the company with a market cap of about $8.55 million. The shares have traded between a 52-week low of $2.55 and high of $14.64.
- The company recently reported a smaller-than-expected quarterly loss, posting EPS of ($1.04) versus analysts’ estimate of ($1.51). Analyst sentiment remains mixed, with a consensus Hold rating and a $13 price target.
Cadrenal Therapeutics, Inc. (NASDAQ:CVKD - Get Free Report) CEO Quang Pham sold 9,167 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $3.55, for a total transaction of $32,542.85. Following the sale, the chief executive officer directly owned 119,422 shares of the company's stock, valued at approximately $423,948.10. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cadrenal Therapeutics Trading Down 2.6%
NASDAQ:CVKD opened at $2.98 on Thursday. The firm has a market capitalization of $8.55 million, a PE ratio of -0.53 and a beta of 1.59. Cadrenal Therapeutics, Inc. has a 1 year low of $2.55 and a 1 year high of $14.64. The firm's fifty day simple moving average is $4.79 and its 200 day simple moving average is $6.29.
Cadrenal Therapeutics (NASDAQ:CVKD - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($1.04) earnings per share for the quarter, topping analysts' consensus estimates of ($1.51) by $0.47. As a group, analysts anticipate that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.
Hedge Funds Weigh In On Cadrenal Therapeutics
Several large investors have recently bought and sold shares of CVKD. Geode Capital Management LLC grew its position in Cadrenal Therapeutics by 14.3% in 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 during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Cadrenal Therapeutics during the third quarter valued at approximately $103,000. DRW Securities LLC acquired a new position in shares of Cadrenal Therapeutics in the 4th quarter valued at $171,000. Finally, Citadel Advisors LLC acquired a new position in shares of Cadrenal Therapeutics in the 3rd quarter worth approximately $274,000. 7.92% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CVKD has been the subject of several research analyst reports. 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. Wall Street Zen raised Cadrenal Therapeutics from a "strong sell" rating to a "sell" rating in a 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 investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.00.
Check Out Our Latest Analysis on Cadrenal Therapeutics
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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