Cadrenal Therapeutics (NASDAQ:CVKD) Shares Down 1.7% Following Insider Selling

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD)’s share price dropped 1.7% on Tuesday following insider selling activity. The stock traded as low as $12.74 and last traded at $12.88. Approximately 22,400 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 25,498 shares. The stock had previously closed at $13.10.

Specifically, CFO Matthew K. Szot sold 1,800 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $13.99, for a total value of $25,182.00. Following the completion of the sale, the chief financial officer owned 9,933 shares in the company, valued at approximately $138,962.67. This trade represents a 15.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew K. Szot sold 1,800 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $13.99, for a total transaction of $25,182.00. Following the completion of the sale, the chief financial officer owned 11,733 shares of the company’s stock, valued at $164,144.67. This trade represents a 13.30% decrease in their position. The SEC filing for this sale provides additional information.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cadrenal Therapeutics currently has an average rating of “Hold” and a consensus target price of $32.00.

Cadrenal Therapeutics Stock Performance

The business’s fifty day moving average is $13.39 and its two-hundred day moving average is $13.49. The company has a market cap of $26.40 million, a P/E ratio of -1.45 and a beta of 0.96.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings data on Monday, August 11th. The company reported ($1.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.27). Analysts expect that Cadrenal Therapeutics, Inc. will post -7.59 EPS for the current fiscal year.

About Cadrenal Therapeutics

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.