Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Up 95.5% in February

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 110,378 shares, an increase of 95.5% from the February 12th total of 56,472 shares. Approximately 6.4% of the company’s shares are sold short. Based on an average daily trading volume, of 66,749 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily trading volume, of 66,749 shares, the days-to-cover ratio is presently 1.7 days. Approximately 6.4% of the company’s shares are sold short.

Insider Buying and Selling at Cadrenal Therapeutics

In other news, CFO Matthew K. Szot sold 9,933 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $6.97, for a total value of $69,233.01. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 26.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC purchased a new stake in shares of Cadrenal Therapeutics during the 3rd quarter worth approximately $274,000. DRW Securities LLC acquired a new stake in shares of Cadrenal Therapeutics in the fourth quarter valued at approximately $171,000. JPMorgan Chase & Co. acquired a new stake in shares of Cadrenal Therapeutics in the third quarter valued at approximately $103,000. Finally, Geode Capital Management LLC grew its position in shares of Cadrenal Therapeutics by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after acquiring an additional 1,818 shares during the last quarter. 7.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cadrenal Therapeutics currently has an average rating of “Hold” and a consensus target price of $32.00.

Cadrenal Therapeutics Trading Down 7.9%

Shares of CVKD stock traded down $0.62 during trading on Thursday, reaching $7.18. The company’s stock had a trading volume of 45,505 shares, compared to its average volume of 54,232. The stock’s 50-day moving average price is $7.21 and its 200 day moving average price is $10.20. Cadrenal Therapeutics has a 1-year low of $4.91 and a 1-year high of $20.39.

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. Cadrenal Therapeutics, Inc was incorporated in 2022 and is headquartered in Ponte Vedra, Florida.