Key Points
- Cadrenal Therapeutics CEO Quang Pham sold 7,400 shares on June 29 at an average price of $3.03, totaling about $22,422. The sale reduced his holdings by 6.98% and was made under a pre-arranged Rule 10b5-1 trading plan.
- The stock has been under pressure, opening at $3.60 and trading well below its 50-day and 200-day moving averages. It also sits far off its 52-week high of $14.64, with a market cap of about $10.33 million.
- Recent fundamentals and sentiment are mixed: Cadrenal beat quarterly EPS estimates, but analysts still have a cautious overall view with a consensus Hold rating and a $13 price target. Institutional ownership remains relatively modest at 7.92%.
Cadrenal Therapeutics, Inc. (NASDAQ:CVKD - Get Free Report) CEO Quang Pham sold 7,400 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $3.03, for a total value of $22,422.00. Following the transaction, the chief executive officer owned 98,589 shares of the company's stock, valued at $298,724.67. The trade was a 6.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cadrenal Therapeutics Stock Performance
Shares of Cadrenal Therapeutics stock opened at $3.60 on Friday. Cadrenal Therapeutics, Inc. has a 52-week low of $2.55 and a 52-week high of $14.64. The stock's 50-day simple moving average is $4.57 and its 200 day simple moving average is $5.98. The stock has a market capitalization of $10.33 million, a P/E ratio of -0.64 and a beta of 1.73.
Cadrenal Therapeutics (NASDAQ:CVKD - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) EPS for the quarter, beating the consensus estimate of ($1.51) by $0.47. Equities research analysts forecast that Cadrenal Therapeutics, Inc. will post -5.52 EPS for the current fiscal year.
Analyst Ratings Changes
CVKD has been the subject of several analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. HC Wainwright lowered their target price on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Finally, Wall Street Zen upgraded Cadrenal Therapeutics from a "strong sell" rating to a "sell" rating in a research 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 stock. Based on data from MarketBeat, Cadrenal Therapeutics has a consensus rating of "Hold" and a consensus price target of $13.00.
Get Our Latest Analysis on Cadrenal Therapeutics
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new stake in shares of Cadrenal Therapeutics during the third quarter valued at about $103,000. Geode Capital Management LLC lifted its holdings 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 buying an additional 1,818 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Cadrenal Therapeutics in the third quarter valued at approximately $274,000. Finally, DRW Securities LLC bought a new position in shares of Cadrenal Therapeutics in the fourth quarter valued at approximately $171,000. Institutional investors own 7.92% of the company's stock.
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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