Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Sees Significant Growth in Short Interest

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 71,276 shares, an increase of 22.1% from the January 15th total of 58,362 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average daily volume of 45,834 shares, the short-interest ratio is presently 1.6 days. Based on an average daily volume of 45,834 shares, the short-interest ratio is presently 1.6 days. Currently, 4.1% of the company’s shares are short sold.

Cadrenal Therapeutics Trading Down 11.2%

Shares of Cadrenal Therapeutics stock opened at $4.91 on Wednesday. The business has a 50-day moving average price of $7.39 and a two-hundred day moving average price of $10.64. Cadrenal Therapeutics has a 1-year low of $4.91 and a 1-year high of $22.90. The company has a market cap of $11.49 million, a P/E ratio of -0.61 and a beta of 1.18.

Insider Buying and Selling at Cadrenal Therapeutics

In related news, CFO Matthew K. Szot sold 9,933 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $6.97, for a total transaction of $69,233.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new position in Cadrenal Therapeutics during the third quarter worth $103,000. Citadel Advisors LLC acquired a new position in shares of Cadrenal Therapeutics during the third quarter valued at about $274,000. Geode Capital Management LLC boosted its position in shares of Cadrenal Therapeutics by 14.3% during 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 in the last quarter. Finally, DRW Securities LLC bought a new position in shares of Cadrenal Therapeutics during the 4th quarter worth about $171,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Wednesday, January 21st. 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 company currently has an average rating of “Hold” and a consensus price target of $32.00.

Cadrenal Therapeutics Company Profile

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.