Key Points
- CEO Quang Pham sold 9,029 Cadrenal Therapeutics shares for about $27,538 at an average price of $3.05, cutting his stake by 7.85%. The transaction was made under a pre-arranged Rule 10b5-1 plan.
- Cadrenal Therapeutics reported a quarterly loss of $1.04 per share, which was better than analysts expected, and the company’s full-year EPS forecast remains deeply negative. The stock also traded up 6.6% on the day referenced in the article.
- Analyst sentiment is mixed: HC Wainwright cut its price target to $13 but kept a buy rating, while other firms maintained sell views. Overall, MarketBeat lists the stock with a Hold consensus and a $13 target price.
Cadrenal Therapeutics, Inc. (NASDAQ:CVKD - Get Free Report) CEO Quang Pham sold 9,029 shares of the firm's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $3.05, for a total transaction of $27,538.45. Following the completion of the sale, the chief executive officer owned 105,989 shares of the company's stock, valued at $323,266.45. This trade represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cadrenal Therapeutics Trading Up 6.6%
Shares of CVKD opened at $3.05 on Friday. The firm's 50-day moving average is $4.72 and its two-hundred day moving average is $6.22. Cadrenal Therapeutics, Inc. has a twelve month low of $2.55 and a twelve month high of $14.64. The firm has a market capitalization of $8.75 million, a P/E ratio of -0.54 and a beta of 1.59.
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 analysts' consensus estimates of ($1.51) by $0.47. Analysts predict that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. HC Wainwright reduced their price target 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. Weiss Ratings restated a "sell (e+)" rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. Finally, Wall Street Zen raised Cadrenal Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.00.
Read Our Latest Analysis on Cadrenal Therapeutics
Hedge Funds Weigh In On Cadrenal Therapeutics
Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Cadrenal Therapeutics by 14.3% in the 4th 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 in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics in the third quarter valued at approximately $103,000. Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics during the 3rd quarter valued at approximately $274,000. Finally, DRW Securities LLC acquired a new stake in Cadrenal Therapeutics in the 4th quarter worth $171,000. 7.92% of the stock is currently owned by institutional investors and hedge funds.
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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